The government is mulling to impose a new cess on flyers to help increase connectivity to smaller towns. An Essential Services Fund could be created with the money collected through the new tax that would help provide subsidy to airlines operating to smaller cities and areas like the north-east.
Author: admin (Infratructure Today)
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Kerala takes up major road projects for Kochi city
Kerala government has taken up four major road and building projects that would contribute to the development of Kochi city. Work on the projects were scheduled to begin on May 22. This will include the Rs 660-crore Seaport-Airport Road second phase development, four-laning of the present road; construction of the Roads and Bridges Development Corporation Kerala office and shopping mall and the construction of the first concrete road.
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Govt scraps airports charges for smaller cities
To boost connectivity to remote areas in the country, the Union Civil Aviation Ministry has decided to scrap most airport charges at tier II and tier III cities for scheduled airlines. Airlines will be exempted from landing charges, parking charges and navigation charges. The government has also decided to do away with the passenger service fee, Union Civil Aviation Minister Ajit Singh has said.
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IndiGo becomes India’s lead carrier with 30% market share
As per the data of Directorate General of Civil Aviation (DGCA), budget airline IndiGo has widened its lead over rivals. IndiGo touched a 29.8 per cent market share, the highest since its 2006 launch. Jet Airways (India), which used to be market leader for many years together with subsidiary Jet Konnect, was second at 22.6 per cent.
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Sebi auction evinces strong response from FIIs
The recent auction held by market regulator Sebi for selling investment limits in government bonds to foreign institutional investors (FIIs) received strong response with 68 FIIs participating in it. The 68 FIIs are learnt to have submitted bids worth Rs 10,146 crore for investment in government bonds. But the amount of investment limit auctioned by Sebi is Rs 5,533 crore and consequently, the number of successful bid s
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Board of Srei allows it to issue Rs 15 bn worth bonds
In a communication to the stock exchange, Srei Infrastructure Finance informed that during the financial year 2013-14 the company is permitted by its board to raise Rs 1,500 crore through debentures. This amount can be raised through public issue of secured, redeemable, non-convertible debentures in one or more tranches during the current fiscal, the firm said. The company's board has also approved to raise up to Rs 500 crore in one or more tranches through issue of prefe
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RBI may switch to CPI to index proposed IIBs
In a conference call with market participants, officials of Reserve Bank of India (RBI) clarified several issues on the proposed auction of Inflation Indexed Bonds (IIBs), which is scheduled on June 4. One of the remarkable information that the officials shares is that the central bank may use Consumer Price Index (CPI) as a benchmark for these bonds once the CPI stabilises
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SAIL takes steps to complete modernisation project early
Steel Authority of India (SAIL) is taking steps to ensure that the modernisation work at its IISCO Steel Plant is completed at the earliest. As part of this, CS Verma, Chairman of the firm assigned
separate jobs to different teams formed for this purpose. The company formed different teams and broke all critic
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World steel output grows 1.2% in April
Global steel production grew 1.2 per cent in April 2013 to 132.11 million tonne (mn t) compared to 130.50 mn t in the corresponding month of previous year, data from the World Steel Association shows. It is noteworthy that nearly half of the global production has come from China at 65.65 mn t during the month. Steel output in the country grew 6.8 per cent over the same month last year, data the association shows
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Shah panel to submit report on mining in Odisha
Justice Shah Commission would submit its report on illegal mining in Odisha by July to the Supreme Court. It may be recalled that the commission was set up to study violations in iron ore and manganese mining in India and recommend changes. The panel submitted a similar report on illegal mining in Goa in September 2012 and following this, the apex court bann