Union Government envisaged over 12 billion Dollars Investment in Aviation
Union government envisages investment of 12.1 billion dollars in the Aviation sector in the 12th plan period.
Civil aviation minister Ajit Singh on 3 May 2013 asserted that the government envisages investment of 12.1 billion dollars in the Aviation sector in the 12th plan period (2012-2016).
The rapidly expanding air transport network and opening up of infrastructure to the private sector have fuelled the growth of air traffic in India.
Out of the investment of 12.1 billion dollars in the airports sector during the 12th Plan period, 9.3 billion Dollars is expected to come from the private sector.
Facts to be remembered
• The Union government had taken several steps in the regulatory framework for making the aviation sector grow despite the challenges facing domestic aviation industry, reeling under mounting losses and rising debt burdens.
• The aircraft acquisition committee has been abolished to liberalise the acquisition of aircraft by the scheduled, non-scheduled airlines, flying institutes and for private use, which will give momentum to the growth and expansion of airlines in India.
The Indian airport system is balanced to handle 336 million domestic and 85 million international passengers by 2020, making India the third largest aviation market.