New Delhi: Aviation has been largely ignored in the Union Budget for 2015-16, as most of the sector's demands such as giving airlines infrastructure status and bringing down taxation on MROs have been ignored. Besides, air travel in business class or first class could get more expensive as the rebate available earlier has been reduced.
Also, it remains to be seen if the announcement by Finance Minister Arun Jaitley that this Government may look at divestment or strategic sale of loss making PSUs could have any implication for the ailing Air India. For 2015-16, Jaitley has provided only Rs 2,500 crore against the airline's demand of Rs 4277 crore. Air India's net loss came down to Rs 5,389 crore in FY14 compared with Rs 5,490 crore in FY13 and Rs 7,559.74 crore in FY12.
Representational image. PTIRepresentational image. PTI
In the Budget, Rs 80 crore has been provided to the Airports Authority of India, of which Rs 22 crore has been earmarked for the new Greenfield airport coming up in Pakyong, Sikkim.
Amber Dubey, partner and India head, aerospace and defence, KPMG, termed the Budget as a disappointing day for aviation. He lamented that long pending industry demands of tax rebates on Aviation Turbine Fuel, Maintenance Repair and Overhaul services (MRO), airports and general aviation have been ignored.
28/02/15 First Post
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Also, it remains to be seen if the announcement by Finance Minister Arun Jaitley that this Government may look at divestment or strategic sale of loss making PSUs could have any implication for the ailing Air India. For 2015-16, Jaitley has provided only Rs 2,500 crore against the airline's demand of Rs 4277 crore. Air India's net loss came down to Rs 5,389 crore in FY14 compared with Rs 5,490 crore in FY13 and Rs 7,559.74 crore in FY12.
Representational image. PTIRepresentational image. PTI
In the Budget, Rs 80 crore has been provided to the Airports Authority of India, of which Rs 22 crore has been earmarked for the new Greenfield airport coming up in Pakyong, Sikkim.
Amber Dubey, partner and India head, aerospace and defence, KPMG, termed the Budget as a disappointing day for aviation. He lamented that long pending industry demands of tax rebates on Aviation Turbine Fuel, Maintenance Repair and Overhaul services (MRO), airports and general aviation have been ignored.
28/02/15 First Post
