Budget 2024: What India's aviation sector needs from Sitharaman for a long flight
Budget 2024 to overcome current challenges and support growth. The focus is on enhancing regional connectivity, expanding airport infrastructure, and supporting domestic maintenance, repair and overhaul (MRO) and aircraft leasing.
ENHANCED REGIONAL CONNECTIVITY: Strengthen regional connectivity scheme (UDAN) to improve access to underserved and remote regions, boosting connectivity and tourism. «The Indian aviation industry expects a continued focus on enhancing regional connectivity through UDAN and expanding airport infrastructure to support growth,» said Kinjal Shah, Co-group Head, Corporate Ratings, ICRA.
INCENTIVES FOR MRO SECTOR:Provide financial incentives domestically, reducing reliance on foreign facilities, fostering local industry growth.
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PROMOTION OF AIRCRAFT LEASING: Create policies, develop infrastructure to promote growth of aircraft leasing sector within India, supporting fleet management and expansion.
PROMOTION OF SUSTAINABLE AVIATION PRACTICES: Support adoption of eco-friendly technologies, sustainable practices to align with global environmental goals and reduce industry’s carbon footprint. «The immediate focus should be on ensuring aviation sector sustainability by addressing current issues such
