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Journalism of Courage
Days after the governments move to construct 51 low-cost airports across the country,the Airport Authority of India AAI has decided to issue tax-free bonds worth Rs 1,000 crore in the current financial year.
The amount realised will be used to finance development of small airports. It would strengthen the financial position of AAI to build these airports, Airport Authority of India chairman VP Aggarwal said here.
Of the 51 low-cost airports,AAI was planning to start work on 15 airports this calendar year itself,he said,adding that an inter-ministerial group IMG,set up for this purpose,has discussed the issue of appointing a consultant at their first meeting yesterday.
The government had last week decided to set up the 51 airports to enhance air connectivity to small cities in Andhra Pradesh,Jharkhand,Bihar,Punjab,Uttar Pradesh,Assam,Arunachal Pradesh,Madhya Pradesh,Rajasthan and Maharashtra.
Those investing in these bonds,which normally have a long-term maturity plan like a decade,would get tax benefits. In this years budget speech,finance minister P Chidambaram had said that state-run bodies like AAI could issue such bonds up to Rs 50,000 crore.
Apart from the low-cost airports,construction rights for eight greenfield airports are likely to be awarded
this year under public-private partnership PPP mode for Navi Mumbai,Juhu,Mopa Goa,Kannur,Rajguru Nagar Chakan at Pune,Sriperumbudur,Bellary and Raigarh.
Aggarwal said the airports in difficult and remote places like in the northeast,would be constructed by AAI as private parties would not want to go there.
The planning for these projects would be in coordination with the state governments and with their contribution,he said.
Start of construction will depend on how fast
the state governments give us land.
