New Delhi/Mumbai: The government, in the Budget today, announced a scheme to expand airport capacity more than five times to handle a billion trips a year under a new scheme called NextGen Airports for Bharat (NABH) Nirman.
This scheme constitutes investments to be made in airport upgrade by both the private sector and the state-owned Airports Authority of India (AAI) in the due course of time.
"We propose to expand our airport capacity more than five times to handle a billion trips a year under a new initiative - NABH Nirman," Finance minister Arun Jaitley announced in the Budget speech.
The scheme, first reported by ET in November, is to establish about 100 airports in 15 years at an estimated investment of Rs 4 lakh crore - a large percentage of the investment is to come from the private sector.
"With the growth in aviation, there is a need to add airport infrastructure. We already have plans to double our outlay on airport infrastructure to RS 4,100 crore for 2019 fiscal. In addition, we have plans to invest Rs 25,000 crore in airport infrastructure over a period of next three to four years," Mohapatra told ET.
Airlines welcome the move and say that this initiative has the potential to transform the Indian aviation sector and make India a global aviation superpower. "The initiative will help to connect smaller towns and cities and increase tourism and economic activity like never before," said Ajay Singh, chairman and managing director of SpiceJet.
01/02/18 Mihir Mishra, Anirban Chowdhury/Economic Times
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This scheme constitutes investments to be made in airport upgrade by both the private sector and the state-owned Airports Authority of India (AAI) in the due course of time.
"We propose to expand our airport capacity more than five times to handle a billion trips a year under a new initiative - NABH Nirman," Finance minister Arun Jaitley announced in the Budget speech.
The scheme, first reported by ET in November, is to establish about 100 airports in 15 years at an estimated investment of Rs 4 lakh crore - a large percentage of the investment is to come from the private sector.
"With the growth in aviation, there is a need to add airport infrastructure. We already have plans to double our outlay on airport infrastructure to RS 4,100 crore for 2019 fiscal. In addition, we have plans to invest Rs 25,000 crore in airport infrastructure over a period of next three to four years," Mohapatra told ET.
Airlines welcome the move and say that this initiative has the potential to transform the Indian aviation sector and make India a global aviation superpower. "The initiative will help to connect smaller towns and cities and increase tourism and economic activity like never before," said Ajay Singh, chairman and managing director of SpiceJet.
01/02/18 Mihir Mishra, Anirban Chowdhury/Economic Times
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