Civil aviation ministry receives Rs 23.57 Bn in Budget 2024
AVIATION & AIRPORTS

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.

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.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000