Civil Aviation Ministry Budget Soars with ₹2,300 Crore Allocation

The upcoming financial year's budget for the Civil Aviation Ministry has been designated at Rs 2,300 crore, as outlined in the Interim Budget for 2024-25 presented by Finance Minister Nirmala Sitharaman on February 1, 2024. This allocation encompasses a revenue component of Rs 2,257.79 crore.

Within this allocation, Air India Asset Holding (AIAHL) is slated to receive Rs 1,158.79 crore for the next financial year, marking an increase from the Rs 713.92 crore allocated in 2023-24. AIAHL, established as a special purpose vehicle (SPV) by the government, manages various assets of Air India.

Additionally, the Directorate General of Civil Aviation (DGCA) is allotted Rs 302.64 crore, and the Bureau of Civil Aviation Security (BCAS) is earmarked Rs 89 crore.

Moreover, the budgetary provision for the production-linked incentive (PLI) scheme for drones and drone components has been augmented to Rs 57 crore for 2024-25, compared to the Rs 33 crore allocated in the current financial year.

News by Rahul Yelligetti