No cheer for aviation

In step with all the hype over development of roads, finance minister P Chidambaram has hiked the allocation for developing highways in the Budget for 2007-08 by more than Rs 700 crore. On the aviation front, Chidambaram failed to cheer the aviation industry and the only measure announced was the increase in budgetary allocation from Rs 2256.36 crore to Rs 12,192.09 crore.
This was, essentially done to help public sector carriers fund the fleet acquisition of 111 aircraft by Indian Airlines and Air India and for the development of 35 non-metro and other airports by the Airports Authority of India.
Other than this, the finance minister has announced a minor relief for the regional jets in the aviation sector by promising to bring small aircrafts under Section 14 of the Central Sales Tax Act.
01/03/07 Financial Express

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Categories: General Aviation Mar 2007