New Delhi: The civil aviation sector is on the verge of collapse with
accumulated losses of Rs 49,000 crore and needs an urgent boost to
prevent more Kingfisher-type meltdowns and job losses, Prime Minister
Narendra Modi was told on Saturday.
The review meeting saw civil aviation minister Ashok Gajapathi Raju pointing out that poor returns from airports, burgeoning costs and a tax structure that hurt Indian maintainance, repair and overhaul industry was burying the sector under debt.
Raju is understood to have compared the situation with what the telecom sector faced in 1999 before the then Vajpayee government worked out a rescue package that allowed mobile service providers to move from fixed fees to revenue sharing.
Read news in full 22/06/14 Rajeev Deshpande/Times of India
The review meeting saw civil aviation minister Ashok Gajapathi Raju pointing out that poor returns from airports, burgeoning costs and a tax structure that hurt Indian maintainance, repair and overhaul industry was burying the sector under debt.
Raju is understood to have compared the situation with what the telecom sector faced in 1999 before the then Vajpayee government worked out a rescue package that allowed mobile service providers to move from fixed fees to revenue sharing.
Read news in full 22/06/14 Rajeev Deshpande/Times of India
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