Updated February 1st, 2024 at 13:24 IST
Added 517 new air travel routes carrying 1.3 crore passengers: Sitharaman
Indian carriers have actively invested in the sector, placing orders for more than 1,000 new aircraft to further enhance air connectivity, said FM.
Interim Budget 2024: In the Interim Union Budget 2024, Finance Minister Nirmala Sitharaman highlighted significant developments in the aviation sector. Over the past decade, the sector has experienced substantial growth, with the number of airports doubling to 114.
During her budget presentation, Sitharaman revealed that 517 new aviation routes are currently operational, catering to 1.3 crore passengers. Indian carriers have actively invested in the sector, placing orders for more than 1,000 new aircraft to further enhance air connectivity.
The Finance Minister underlined the continued expansion of existing airports and the expedited development of new ones. She noted the pivotal role of the aviation sector in the context of India's fast-expanding middle class and ongoing urbanisation. Sitharaman highlighted the potential of metro rail and Namo Bharat as catalysts for essential urban transformation, with a focus on transit-oriented development in major cities.
These developments signal a proactive approach to meet the growing demands of air travel in India, aligning with the broader economic and infrastructural goals outlined in the budget.
The budget receipts for 2024-25 other than borrowings and total expenditure are estimated at Rs 30.80 lakh crore and Rs 47.66 lakh crore respectively. The revised estimates of the fiscal deficit is 5.8 per cent of GDP improving on the budget estimates notwithstanding moderation in the nominal growthestimates.
Other achievements to acknowledge
Sitharaman also cited other key achievements and initiatives in her budget address including the Pradhan Mantri Fasal Bima Yojna, a flagship crop insurance program, which has reached a milestone by providing coverage to 4 crore farmers across the nation.
The Skill India Mission, another pivotal initiative, has demonstrated remarkable progress, training 1.4 crore youth and upskilling or reskilling 54 lakh individuals. The establishment of 3,000 new Industrial Training Institutes (ITIs) further reinforces the government's commitment to enhancing the skill set of the workforce.
Published February 1st, 2024 at 13:12 IST