Thursday, November 25, 2021

How Centre's 90,000 crore investment will see India's airport sector flying high

The country's airport sector is all set to soar! Union Civil Aviation Secretary Rajiv Bansal announced on Wednesday that India's airport sector is expected to see an investment of Rs 90,000 crore in a five-year period, starting 2020-21.

This infusion of cash is bound to give a fillip to the sector, which had been battered by the coronavirus pandemic.

As Prime Minister Narendra Modi gears up to lay the foundation stone at the Noida International Airport, take a look at what all this entails.

Air transport is a key element in the country’s transport infrastructure.

From the establishment of the Tata airline by JRD Tata in 1932, India's aviation industry has grown leaps and bounds.

As of 2020, the country, according to Statista, had 16 scheduled operators.

By 2024, it is expected that India will become the third-largest market in terms of passengers, overtaking the United Kingdom.

In an effort to boost the aviation sector, investments totalling Rs 90,000 crore will be made for airports over a five-year period, starting 2020-21.

Of this amount, around Rs 20,000-22,000 crore will be invested by the Airports Authority of India (AAI), while the remaining amount of about Rs 68,000 crore would be from the private sector.

The Modi Sarkar has planned to build as many as 220 operational airports, including heliports, over five years.

Currently, India has 136 operational airports in the country.

25/11/21 First Post

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