Govt Is Planning To Open 100 More Airports In 5 Years: Report

As part of its economic growth revival plan, the government is planning to open 100 additional airports in India by 2024, a Bloomberg report said citing unidentified sources.

The news report said that a proposal to start 1,000 new routes connecting smaller towns and villages was discussed at a meeting last week to review infrastructure needed by 2025. Plans to start a plane lease financing business was also discussed, it said.

The government has committed investments worth one trillion rupees to build airports in the next 5 years.

The plan is similar to that of China, which is set to have 350 commercial airports by 2035, close to double of what it had at the end of 2018.

The Narendra Modi-led government is working on achieving its target of making India a $5 trillion economy by 2025.

Apart from plans of infrastructure projects, the government cut corporate tax rates in the previous month to bring it down to levels at par with other Asian countries like Indonesia and Vietnam, to attract global investments.