2024 Interim Budget: Expansion of existing airports and development of new ones will continue at a rapid pace, Finance Minister Nirmala Sitharaman said on Thursday, stressing that the country’s aviation industry has grown over the past decade.

Also Read: Budget 2024 Live Updates

The interim budget contains a number of announcements and strategies that chart the direction and development approach to achieve Viksit Bharat in India by 2047.

railway

While presenting the interim Railway Budget 2024-25, Sitharaman announced that plans will be implemented for three major economic corridors of energy, minerals and cement, as well as port connectivity corridors and high traffic density corridors.

In addition, 40,000 general railway bogies will be modified as per Vande Bharat standards to enhance safety, convenience and comfort of passengers.

aviation

“The expansion of existing airports and the development of new airports will continue apace,” the minister said.

The number of airports has doubled to 149 in the past 10 years, Sitharaman said, adding that Indian airlines have aggressively placed orders for more than 1,000 new aircraft.

India is one of the fastest growing civil aviation markets in the world, with domestic air passenger traffic continuing to grow.

“The rollout of air connectivity to tier-II and tier-III cities under the UDAN scheme has been widespread. 517 new routes carrying 130 million passengers,” she said.

The main aim of Ude Desh ka Aam Naagrik (UDAN) or Regional Air Connectivity Scheme is to make flying more affordable.

Port connectivity and tourism

External Affairs Minister Sitharaman also said that port connectivity, tourism infrastructure and amenities projects will be taken up “in our islands including Lakshadweep” in response to the “emerging enthusiasm” for domestic tourism in the country.

She also said that “the strength of our economy makes the country an attractive destination for business and conference tourism”.

The Finance Minister’s mention of Lakshadweep is significant as Prime Minister Narendra Modi visited the island on January 4. He has tried snorkeling and says that for those looking to embrace adventure, Lakshadweep must be on the bucket list to visit.

Sitharaman said in her budget speech that India’s middle class now also has an “eagerness to travel and explore”. She added that tourism, including spiritual tourism, offers huge opportunities for local entrepreneurship.

“Countries will be encouraged to comprehensively develop iconic tourism centers for branding and marketing on a global scale. A framework will be established to rate centers based on the quality of facilities and services,” the finance minister said.

Long-term interest-free loans will be provided to states to provide matching funds for such developments, she added.

“To cater to the growing domestic tourism boom, port connectivity, tourism infrastructure and amenity projects will be undertaken in our islands including Lakshadweep. This will also help in generating employment opportunities,” the Union Minister said.