New Delhi: Terming the aviation sector as the 'real World Wide Web', a study has said it is currently contributing Rs 33,000 crore or 0.5 per cent of India's GDP and supporting 1.7 million jobs in the country, besides creating much-needed critical assets.
The study, conducted by Oxford Economics for the International Air Transport Association (IATA) recently, says aviation not only provided significant economic benefits to the Indian economy and the citizens, but also critical assets on which modern globalized businesses depend.
Noting that aviation contributed Rs 87,500 crore as taxes and social security, it said, "This contribution is likely to increase further, as the sector recovers following a number of difficult years where many firms suffered losses."
The study to measure the sector's economic footprint in India estimated that a further Rs 16,900 crore worth of government revenue was raised via taxation through indirect and induced channels.
01/04/12 Press Trust of India/Business Standard
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