Expectations for the 2024 Budget: From sustainability to infrastructure expectations for the 2024 Budget: From sustainability to infrastructure.
What are the aviation sector's key priorities for this year?
The industry welcomes initiatives that support environmental responsibility and increasing connectivity as they demonstrate a wider commitment to sustainable development objectives.
In the aviation industry, expectation is high for the Indian government's upcoming 2024–25 Budget, which will include everything from sustainability projects to infrastructure improvements. After recent successes like airport expansions and new airline routes, stakeholders are keen to see how fiscal policies will handle issues like operational costs and regulatory frameworks while promoting continued growth.
In light of these anticipations, the industry welcomes programmes supporting environmental responsibility and improving connectivity, demonstrating a wider dedication to sustainable development objectives.
Proactive development of aviation infrastructure
In her 2024 Interim Budget address, Finance Minister Nirmala Sitharaman noted notable advancements in India's aviation industry during the previous ten years on February 1. Sitharaman talked about the government's initiatives to build the nation's aviation infrastructure proactively during the budget presentation.
With more than 1,000 new aircraft ordered by Indian carriers, the number of airports has doubled to 149. According to Sitharaman, the UDAN programme has significantly increased air connectivity to Tier-II and Tier-III cities, enabling 517 new routes that will carry 13 million passengers.
Innovative government programmes, most notably the RCS-UDAN programme launched in 2016, are attributed with this expansion. The program's main objective is to improve connectivity by revitalising airports and airstrips, particularly in underserved areas.
Moreover, the government has prioritised sustainability in the aviation industry, as seen by the airports in Delhi and Mumbai achieving Level 4+ Carbon Accreditation. This demonstrates their commitment to reducing carbon emissions and raising the bar for responsible flying.
The Ministry of Civil Aviation has seen a decrease in budgetary allocation in the interim Budget for 2024–25, from Rs 2,922.12 crore in the revised estimate for the current fiscal year to Rs 2,300 crore. There is a Rs 2,257.79 crore revenue component to this allocation.
According to the budget documents, funding for important regulatory agencies has fallen. The Bureau of Civil Aviation Security (BCAS) has been allocated Rs. 397.55 crore, while the Directorate General of Civil Aviation (DGCA) has been given Rs. 302.64 crore.
Additionally, from Rs 1,244 crore to Rs 502 crore, the budget for the UDAN (Ude Desh Ka Aam Nagrik) scheme—which aims to improve regional connections in Tier-II and Tier-III cities—has been slashed by 60%. These cuts coincide with problems that airlines are facing, such as aircraft groundings and rising fuel prices, which has led the industry to seek supportive policies like financial aid or incentives.
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