India's Udan scheme, aimed at enhancing regional air connectivity, is set to receive a reduced budget of Rs.502 crore for the fiscal year 2024-25. This allocation marks a decrease from the revised estimate of Rs.850 crore for the previous fiscal year and a significant drop from the initial estimate of Rs.1,244 crore. The allocated funds will primarily focus on revitalizing 22 airports, initiating 124 air routes, and providing financial support for connectivity in the northeastern region.
The overall budget for the Ministry of Civil Aviation in the fiscal year 2024-25 stands at Rs.2300 crore, indicating a decrease from the revised estimate of Rs.2922.12 crore for the previous fiscal year and the initial estimate of Rs.3113.36 crore.
Additionally, Rs.1158.79 crore has been earmarked for Air India Asset Holding Ltd (AIAHL), a special purpose vehicle managing assets formerly owned by Air India. This allocation is designated for servicing loans transferred to AIAHL as part of Air India's financial restructuring. In comparison, AIAHL was initially allocated Rs.1144.49 crore for the fiscal year 2023-24, which was later revised to Rs.713.92 crore.
In the previous fiscal year, the budget aimed to revive 50 additional airports, heliports, water aerodromes, and advanced landing grounds to enhance regional connectivity under Udan. However, the Finance Minister announced a sanction of Rs.1,000 crore for the period spanning April 2023 to March 2026 to support the revival and development of unserved and underserved airports, helipads, water aerodromes, and advanced landing grounds.
The government has identified 33 airports, heliports, and landing grounds tentatively for revival and development under the third phase of Udan. A sum of Rs.410 crore was allocated in July for the development of 15 aerodromes, with plans to identify additional heliports and water aerodromes through ongoing and future bidding rounds under the Udan framework.
India Confident of Achieving Developed Nation Status by 2047Rajnath Singh
PM Modi Hails, This Interim Budget is Inclusive and Innovative
Interim Budget 2024: Emphasizing Fiscal Discipline and Realistic Plans
Budget 2024 Puts Focus on Women's Empowerment: FM Highlights Loans and Healthcare Coverage
