BJP pitches for anti-conversion law

Mumbai, Feb 9: Given the slow progress on the ongoing Rs 38,000-crore capacity expansion at the four largest metro airports, and also the surging traffic, the snaky queues will continue at least till 2023, warns a report.

The four largest airports -- New Delhi, Mumbai, Bengaluru and Hyderabad -- handle more than half of the traffic and are operating at 130 per cent of their installed capacity. These airports are under a record Rs 38,000-crore capex but the capacity will not come up before end-2023, says a Crisil report.

“With the dip in traffic growth largely behind, we expect congestion at the top four airports of New Delhi, Mumbai, Bengaluru and Hyderabad, which handle more than half of the load, to continue till about FY23,” says the report.

Already these airports are operating at over 130 percent of installed capacity, and the ongoing healthy traffic growth this operating rate is expected to rise further in the next 12 months.

“Operationalising of capacities in the following two fiscals will bring down utilisation levels albeit still high at over 90 per cent by fiscal 2023 and that is despite an unprecedented Rs 38,000 crore capex being undertaken by the operators of these airports over five fiscals 2020-24,” says the report.

Despite this unprecedented capex that is debt-funded, ratings are likely to be stable given the strong cash flows expected due to healthy traffic growth, low project risks associated with the capex and improving regulatory environment, notes the report.

“Capacity at these four airports will increase a cumulative 65 per cent to 228 million annually (from 138 million now) by fiscal 2023. However, traffic is expected to grow strong at up to 10 per cent per annum over the same period. Since additional capacities will become operational in phases only by fiscal 2023, high passenger growth will add to congestion till then,” warn the report.

High utilisation will ride on pent-up demand (accumulated in 2019 as traffic was impacted with the grounding of Jet Airways) and one-off issues with new aircraft of certain airlines.

Further impetus will also come from improving connectivity to lower-tier cities and reducing fare difference between air and rail. Increasing footfalls at airports provide a leg-up to non-aero streams such as advertising, rentals, food and beverage and parking, which comprise around half of the revenue of airports already.

These are expected to grow strongly at over 10-12 per cent, also supported by higher monetisation avenue coming along with current capex. The other half of revenue (aero revenue) is an entitlement approved by the regulator, providing a pre-determined, fixed return over the asset base and a pass-through of costs.

Aero revenue is also expected to get a bump up during fiscals 2022-24, when a new tariff order for airports is likely. Overall aggregate cash flows are likely to double by fiscal 2024 and provide a healthy cushion against servicing of debt contracted for capex, the report concludes.

Thiruvananthapuram, Feb 7: Kerala Finance Minister T M Thomas Isaac on Friday began presenting the fifth budget of the CPI(M)-led LDF government for the 2020-21 fiscal by making remarks against the Citizenship Amendment Act and the unanimous resolution passed by the state assembly against it.

Stating the amended act was posing a threat to the basic credentials of the Constitution, he said the country was witnessing the biggest protests ever in the post-Independence era.

Students and women are at the forefront of the anti- CAA agitations and the hope of the country lies in the youth who hit the streets vowing they would not let the country down, he said.

Coming down heavily on the BJP-led NDA government at the Centre, Isaac said a communalised government machinery, leaders who talk only about "disgust and hatred" and their party workers who consider violence as their duty was the current reality in the country.

"Generally speaking, it is the present India...The concerns triggered by Citizenship Amendment Act (CAA) and the National Register of Citizens (NRC) are beyond words. The fear of detention centres are hanging above the head of over 19 lakh people of Assam who have lived as Indians till yesterday," he said.

Quoting from a poem 'Fear' by a 15-year old boy from Wayanad Dhruvath Gautham who wrote 'fear is country and silence is an ornament!,' Isaac said "even the imagination of our children is now filled with fear".

Referring to the stringent opposition raised by the Left government in the state against the CAA and NRC, the finance minister lavished praise on the joint protests led by the ruling LDF and opposition UDF against the central act.

Setting aside political differences, the rival fronts in the state had joined hands to protest when the country had faced existential threat which had become a model for other states, he said.

When Chief Minister Pinarayi Vijayan and Leader of the Opposition Ramesh Chennithala jointly protested at the same venue against CAA, Kerala became a model to other states, the senior leader added.

The state showcased the same unity while passing a resolution requesting the centre to repeal the CAA and filing a suit in the apex court against this under the Article 130, he said.

"The country's economy is heading towards a severe economic crisis like that witnessed in 2009," he said.

Earlier, the references to anti-CAA protests had found a place in the Pinarayi Vijayan government's policy address also.

While presenting the policy address in the House, Governor Arif Mohammed Khan had read out references to anti- CAA resolution passed by the house, despite disagreeing with it.

Reading out the the anti-CAA stand of the state government, the Governor said "our citizenship can never be on the basis of religion as this goes against the grain of secularism which is part of the basic structure of our constitution.

New Delhi, Jul 19: Blaming the BJP for the political drama in Rajasthan, senior Congress leader Digvijaya Singh on Sunday asked Sachin Pilot not to leave the grand old party.

In an interview to news agency, the former Madhya Pradesh chief minister said Pilot should not follow Jyotiraditya Scindia into the BJP, as he has bright future in Congress.

His remarks follow Pilot's open rebellion against the Ashok Gehlot government, which has been on shaky ground with at least 18 legislators backing the rebel leader.

Pilot was sacked as Rajasthan deputy chief minister and the state Congress chief recently and the Congress has accused the BJP of making efforts to topple the Gehlot-led government by indulging in horse-trading.

"The BJP is behind the crisis in Rajasthan," Singh said.

The Congress veteran said he tried to call Pilot but his calls and text messages went unanswered.

"Age is on your side. Ashok (Gehlot) may have offended you, but all such issues are best resolved amicably. Dont make the mistake that Scindia made. BJP is unreliable. Nobody who joined it from any other party has succeeded there," Singh said.

He said this is the first time that Pilot hasn't responded to him.

"Sachin is like my son. He respects me and I also like him. I called him three-four times and also texted him. He didn't revert. He used to respond immediately earlier," he said.

"It is good to be ambitious. How can one move forward without having ambitions, but along with ambition, one must also have commitment to your organisation, ideology and the nation," Singh said.

For latest updates on the Rajathan Political Crisis, click here

"I heard that he (Pilot) may form a new party. But what is the need for it. Has Congress not given him anything? He was made an MP at 26, a Union minister at 32, the state Congress president at 34 and deputy chief minister at 38. What else does he want? Time is on his side," Singh said.

If Pilot had any issue, then as the state party unit president, he should have called a meeting and discussed the matter, he said. Pilot could have involved Congress national general secretary and Rajasthan in-charge Avinash Pande in talks with Gehlot to resolve differences, he added.

"If you have faith in your legislators, why have you have confined 18-19 of them in ITC Grand hotel at Manesar in Haryana," Singh said.

This is the same hotel where the BJP kept MLAs from Maharashtra, Karnataka and Madhya Pradesh (during political dramas in those states), he said.

Pilot should forget whatever has happened, come back and sit across the table to discuss how Congress could be strengthened, he said