Civil aviation ministry receives Rs 23.57 Bn in Budget 2024
According to documents from the Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday, the budgetary allocation for the civil aviation ministry for the current fiscal year ending next March has been reduced to Rs 23.57 billion. This marks a decrease from the revised budgetary allocation of Rs 2,922.12 crore for 2023-24. The regional air connectivity scheme will receive Rs 5.02 billion during the same period, down from Rs 8.5 billion in the revised budget for 2023-24.
The allocation includes funding for the revival of 22 airports, the commencement of 124 RCS routes, and Viability Gap Funding for North East Connectivity. Additionally, a new scheme has been introduced to enhance air connectivity and aviation infrastructure in the northeast region.
Furthermore, the Production Linked Incentive (PLI) scheme for drones and drone components will see an increased allocation of Rs 0.57 billion for this fiscal year.
An allocation of Rs 0.57 billion has been earmarked in the budget for the Hotel Corporation of India Ltd to fulfill its statutory and other obligations under the ministry.
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