(Image source from: Twitter.com/ANI)
Nirmala Sitharaman Announces Benefits For Aviation Sector:- Union Finance Minister Nirmala Sitharaman announced benefits for Indian air space and civil aviation industry. Nirmala Sitharaman said that only 60% of the Indian airspace is freely available. Six airports will be auctioned for the private participation. Rs 13,000 will be allocated for private players in 12 airports that will be auctioned in the first and second rounds. The tax regime for aircraft repair, managemeng and maintainence has been rationalized. The component repair and airframe maintanence will increase from Rs 800 crores to Rs 2000 crores in the next three years.
Nirmala Sitharaman also said that more number of world-class airports will be developed through Maintanence on Public Private Partnership. Rs 1000 crores per year is allocated to support the aviation sector. Nirmala Sitharaman also said the commercial minig will be introduced in coal sector. Also, private sector will be allowed to use the facilities of ISRO to improve the capacities and boost the private participation in the field of space activities. Nirmala Sitharaman also said that the power distribution companies across the union territories will be privatized.
(Video Source: PIB India)