As the finance minister presented the Budget this Saturday expectations were that there would be some announcements related to aviation. This because of sections on the economic survey and also the fact that last year鈥檚 budget speech had laid out a vision towards India entering the aircraft financing and leasing market; the divestment of Air India; consideration for re-examining foreign …
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For the aviation stakeholders, the budget was heavy on prose and lacking in numbers. A government that came in with a decisive mandate was expected to deliver on bold reforms. Yet, given that the tax revenues are declining and ambitious social sector schemes continuing, aviation once again saw token allocations and scant consideration. 5 key areas were highlighted: 1. Air …
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For all the talk of the Government promoting aviation and as the industry watched with baited breath, the budget seems to have continued the Modi-government’s ignoring of聽 civil aviation. The sum-total budget proposals pertinent to aviation do not even warrant us writing an article. If anything, they could likely be summed up in an SMS message.聽Namely, Aviation turbine fuel (ATF) …
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Global aviation leaders at the Farnborough international air show 2014 termed India’s decision to levy service tax of 12.36% on aircraft lease charges as a regressive step which will only hurt India’s already over-taxed airlines. As per a report in The Mint, the maiden Union budget of the Narendra Modi led NDA government proposes to levy the service tax effective …
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National carrier Air India will receive a total of Rs.6,500 crore (about $1.08 billion) financial bail-out this year. The tax-payer funded bailout is part of a package exceeding Rs. 30,000 crore (about $6 billion at the time) approved in April 2012 and to be completed over nine years. In his maiden budget budget yesterday, the finance minister Arun Jaitley proposed …
Read More »by Devesh Agarwal Finance minister P. Chidambaram disappointed the Indian aviation industry in his budget presented before the Parliament yesterday. Last year, then finance minister Pranad Mukherjee, had offered a small relief to the fledgling aviation MRO (Maintenance, Repair, Overhaul) industry by giving a waiver in customs duty for import of spare and testing equipment, but required the spares be …
Read More »by Devesh Agarwal As per the budget for fiscal 2013~14, presented yesterday in parliament, the Indian government has earmarked another Rs. 5,000 crore (about $900 million) for equity infusion into ailing national carrier Air India. This is the second tranche of a nine year, Rs. 30,000 crore (about $ 5.5 billion) tax-payer funded equity infusion, which is part of a …
Read More »Every year, the Finance Minister, and the Government’s Chief Economic Advisor release the Economic Survey, a day ahead of the annual budget, which details the performance of the Indian economy and expectations. The aviation industry is closely linked to the economic growth of the country, and it is a well established norm, that the industry grows at about two times …
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Bangalore Aviation News, Reviews, Analysis and opinions of Indian Aviation