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11:20 pm - Friday July 29, 2016

No FDI in Air India

Agencies
New Delhi, Sep 21
Air India is being exempted from the new Foreign Direct Investment (FDI) provision as the Government has already given Rs 30,000 crore to the national carrier, Aviation Minister Ajit Singh said today. The Minister was speaking after inaugurating the ASSOCHAM 5th international conference of Indian Civil Aviation here.

“Aviation Turbine Fuel (ATF) is to be declared as notified product to bring transparency in its pricing and reduction of VAT on ATF by the states,” he said.
He added that the Ministry plans to establish a separate Aviation Security Force (ASF) to further strengthen security in all the 59 airports in the country. ‘This force will replace the Central Industrial Security Force (CISF) to safeguard the airports,’ Mr Singh said.

He outlined that India needs lot of efforts and significant investment in the field of development of airport, improvement in connecting infrastructure and better air space management.
“Creation of Civil Aviation Authority to manage the phenomenal growth of air traffic with safety an effective, autonomous and professional regulatory body is required,” the Minister said.

Posted in: Nation

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