Arun Jaitley in his budget speech says govt will allow private companies to manage, operate airports in smaller towns and cities under public-private partnerships
Finance minister Arun Jaitley has cleared a key land reform that will open up portions of 50,000 acres of urban airport land for building multiplexes, shopping centres and convention centres.
Jaitley on Wednesday said the Airports Authority of India Act will be amended to “enable effective monetization of land assets” and the resources raised from the land will be used for upgrading airports.
In essence, the Airports Authority of India (AAI), which owns most of the country’s 125 airports and holds 50,000 acres of urban airport land, will now be able to change the land usage policy. So far, airports were allowed to use their land only for airport-related activities such as car parking, hotels etc.....................Read more