Govt doubling infra financing to make India 5-tr economy

As part of its plan to revive economic growth and make India a $5 trillion economy by 2025, the Union government is doubling infra financing resources. The Centre has decided to build 100 more airports by 2024. and will 1,000 new routes connecting smaller towns and villages. Steps have been initiated to start a plane-lease financing business as the PM is keen to compete with Vietnam and Indonesia for investments amid global trade tensions. India‘s plans to expedite airport development still trails that of China‘s, which has set a goal of 450 commercial airports by 2035. The government has committed investments of 1 trillion rupees to build airports in the next 5 years. The country has already attracted companies such as Singapore Airlines Ltd. and AirAsia Bhd to set up local units. The government is also lessening the burden of higher jet fuel prices, and will soon rationalize the tax regime. It has also announced a policy allowing unmanned vehicles to fly beyond the line of sight, and is preparing drone corridors by 2021, and delivery of goods by drones by 2023. The number of legal drones are estimated to reach a million by 2024.