India announces easing of restrictions on utilisation of Indian air space

NEW DELHI: India’s Finance Minister Nirmala Sitharaman on Saturday announced easing of restrictions on utilisation of Indian air space, benefiting civil aviation sector by about Rs 1,000 crore per year.nnAnnouncing the fourth tranche of economic stimulus, she said only 60 per cent of Indian airspace is freely available.nnMore air space available would reduce travel time and save on fuel, she said.nnThe finance minister said six more airports will be auctioned for private participation.nnAlso, an additional investment of Rs 13,000 crore will be made by private players in 12 airports auctioned in first and second rounds.nnShe also said tax regime for aircraft Maintenance, Repair and Overhaul (MRO) has been rationalised.nnAircraft component repair and airframe maintenance are expected to increase from Rs 800 crore to Rs 2,000 crores in three years, she added.nnSource: Press Trust of India