UDAN to give a boost to aviation sector: Economic Survey

0
3

NEW DELHI: The government’s Regional connectivity scheme will give a boost to the aviation sector, the Economic Survey has said adding that the growth prospects for the aviation sector look ‘bright’.

“To make flying accessible and affordable for the masses in the regionally important cities, the RCS-UDAN scheme was launched in October 2016. This is a first-of-its-kind scheme globally to stimulate regional connectivity through a marketbased mechanism. 27 States/UTs have already signed MOUs with the Central Government under RCS-UDAN. Many private sector airlines are actively participating under this scheme,” the Economic survey listing it as one of the initiative that will give a boost to the aviation sector.

The other initiatives include, provision of Rs 4,500 crore for the development of 50 unserved and underserved airport in the country and granting approvals to Greenflield airports in the country.

“(The) Government has granted in-principle approval for setting up 18 Greenfield airports in the country has granted “site clearance” for 5 Greenfield airports,” said the survey.

The Survey adds that the growth prospects for the aviation sector look bright.
5-yr-old playing with Matchbox Caught on FireMilaap American Express® Platinum Travel Credit CardAmerican Express® Recommended By Colombia

“The (growth) prospects look bright with good performance of sub sectors like Tourism, Aviation, and Telecom, robust services trade performance with even growth of major services like software returning to positive territory,” said the Survey.economictimes