Search Result for : Jayant Sinha

The Dollar Business Bureau The Government is working on a four-pronged strategy in order to boost the capacity of airports all over India, said Minister of State for Civil Aviation Jayant Sinha on Wednesday. “We have been spending a lot of time thinking and planning about what we should do about airport capacity, we are working on four different aspects,” Sinha said while inaugurating a civil aviation conference organised by ASSOCHAM in New Delhi. The Minister further said that his ministry is working simultaneously on boosting the capacity at key airport hubs of Delhi, Mumbai, Bengaluru, Kolkata and Chennai and is also working to develop new brown-field and green-field airports as well as smaller airports in tier III and IV cities. “We are significantly ...

The Dollar Business Bureau  Soon after the Cabinet cleared the consideration of Air India's disinvestment, leading domestic airline IndiGo has shown its willingness in buying the flight operations of the national carrier, specifically overseas services.  IndiGo President Aditya Ghosh sent a letter to the Minister of Civil Aviation Gajapathi Raju expressing interest to buy out the international services of Air India as the airline looks to spread its operations overseas.  “Kindly treat this letter as our expression of interest in acquiring the international airline operations of Air India and Air India Express. Alternatively, we are equally interested in acquiring all of the airline operations of Air India and Air India Express,” said Ghosh in the letter.  IndiGo is a leader in the domestic market ...

The Dollar Business Bureau Jayant Sinha, the Union minister for Civil Aviation proposed the Ude Desh ka Aam Nagrik (UDAN) scheme that would connect the smaller towns across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region. Adding that such a move will be similar on the lines of the Open Sky Agreement that India enjoys with the SAARC countries, he said, "We can sign an MoU with different countries to be able to provide support for an UDAN-type scheme across the BIMSTEC community. Of course, we will have to couple that with something like an Open Sky Agreement so that airlines can fly freely," Sinha told reporters. Under the Open Sky Agreement (OSA), signed in 2016, New ...

Aamir H Kaki Minister for State for Civil Aviation, Jayant Sinha, on Friday said that under the UDAN scheme, the government is slated to create 100 more airports in the next 2-3 years. “In one year, under UDAN, we have added 31 new airports. Eventually, over the next 2-3 years we can add 100 more airports to the existing 75. So that we have 175-200 airports,” he detailed while speaking at the Confederation of Indian Industry’s (CII) Annual Session 2017. Briefing about UDAN, he said, “We have created a market-friendly innovative scheme that lures the airlines to go to these under-served markets.” “India is the 3rd largest aviation market now. We have 160 million passenger trips a year,” Sinha said. ...

The Dollar Business Bureau The government has announced it will soon set up mini drug-testing laboratories at ports and airports to check quality and authenticity of imported drugs. The Health and Family Welfare Ministry has given nod to setting up mini-labs at ports and airports to monitor drugs that are imported into the country. Minister of State for Civil Aviation Jayant Sinha said in a written reply to the Lok Sabha that the decision has been taken to prevent illegal and substandard drug and strengthen the country’s drug regulatory structures. "Necessary sanction has been issued by the Ministry of Health and Family Welfare to set up these labs," Sinha said. He was responding to a question on whether the government would set up six small ...

The Dollar Business Bureau On January 20, Union Minister of State Jayant Sinha announced, national carrier Air India’s plans to register operational profit in the current fiscal as the minister said that he observed a drastic change in growth of the Civil Aviation Sector from 20 to 25%.  Sinha said, there was an upsurge of passenger traffic by 23.5% in December, 2016 rather than a decline. The minister also stated that demonetisation has not affected the Civil Aviation Industry, therefore it also failed to affect Air India’s performance. The profit gained in the last financial year was Rs.105 crore.  Although there was loss in the first two-quarters of the financial year, it rebounded to profit in the latter. He conceded that performance of Air ...

The Dollar Business Bureau The government has set a target of April 2017 to roll-out the goods and services tax (GST), as it is banking on regional parties to  support it and pass the legislation in the monsoon session of Parliament next month, said Jayant Sinha, Minister of State for Finance.   “If the government can pass the GST bill in the monsoon session of Parliament (starting next month), then it can be implemented by April 1, 2017," Sinha said. “The centre has enough support of the regional parties to clear the bill in Rajya Sabha, even without the support of the major opposition party, Congress,” he said.   Earlier, the government was planning to introduce GST on April 1, ...

The Dollar Business Bureau The bankruptcy code was cleared by the Rajya Sabha on Thursday while the Lok Sabha had cleared the Insolvency and Bankruptcy Code last week. Clearing of these codes is likely to promote jobs, increase the availability of credit and identify the financial distress of companies, the Finance Ministry said on Friday. Hailing the bankruptcy code as the next "biggest economic reform" after yet-to-be- cleared Goods and Services Tax (GST), the Finance Ministry said, “The objective of the new law is to promote entrepreneurship, availability of credit, and balance the interests of all stakeholders by consolidating and amending the laws relating to reorganisation and insolvency resolution in a time bound manner.” The new arrangement will enable information utilities to collect, ...