Aviation gets astronomical push worth Rs. 400b

The Union Aviation Ministry has unveiled an ambitious infrastructure investment plan of Rs. 400 billion ($8.6 billion) for setting up new airports and giving world-class look to the existing ones, Union Civil Aviation Ministry Praful Patel said in a statement.

Claiming that India is currently the second fastest growing economy in the world and the fact has boosted the income of each and every household pushing the numbers of air travelers to new high. The numbers of flyers will further climb to a record 50 million this year from 44 million last year and the aviation industry is getting set to grow at least 20 per cent in the next five years.

Dwelling further he claimed that the government has already invested Rs. 400 billion in the last few years to uplift the status of existing airports and building new ones in cities like Hyderabad, Bangalore and New Delhi. Currently the country has 92 airports as compared to 45 in 2004 and many more are in the pipeline. In addition, the government is also investing in lengthening and improving the quality of runways and navigation systems across the country, he claimed.