Govt in 'mission mode' to expand aviation sector: PM Modi

October 22, 2016

Vadodara, Oct 22: Accusing previous governments of having "no vision" for aviation, Prime Minister Narendra Modi today said his government has come out with the first integrated policy for the sector and is working in a "mission mode" for its expansion which will spur growth and employment.modi

Dedicating the new integrated terminal building of the airport here, Modi noted that India in the near future would probably become the third country in the world in terms of airport activity benchmarks and "if you think only 80 to 100 airports are enough, then we are trying to create hurdles in the country's growth".

He said the country's development can take new dimensions if attention is given to tier-2 and tier-3 cities, which have the same potential, and referred to government's new regional connectivity scheme.

Attacking the previous governments, he said, "Earlier airports were set up, planes would fly but the country did not have an aviation policy.

"How to take the sector forward in next five or ten years and take care of its and passengers' needs, what should be done for common people, there was no vision in place earlier. It was just moving," he said.

"After the new NDA government came to power, for the first time since independence it formulated a new aviation policy for the country," he said inaugurating the terminal building which is now the country's second green airport after Kochi.

He said the new aviation policy will take care of the consumers' needs and the growth of the sector. Modi said that the aviation sector is growing at a very fast pace and more middle-class families aspire to travel by air.

"It is estimated that within five years, the situation in India would be such that the airports in the country would have as much footfall in a year as America's total population.

"You can well imagine how this sector is growing. India in the near future would probably become the third country in the world in terms of airport activity benchmarks. This will help increase employment opportunities and would spur economic activity," he said.

Spread in an area of 17,500 sq mt, the new integrated terminal has been built at a cost of Rs 160 crore. It has been designed to handle 700 passengers, including international fliers, per hour with 18 check-in counters, which would help in a seamless boarding process.

It took about seven years to complete the project as the then Civil Aviation Minister Praful Patel had laid the foundation stone in 2009.

The 8,100-meter-long runway of the Vadodra airport can handle small and narrow body aircraft such as Airbus 320 and Boeing 737s. Besides national carrier Air India, private airlines likes IndiGo and Jet aiways are operating from here.

Comments

Dr joby
 - 
Sunday, 23 Oct 2016

knowing the expansion plan in advance Meredian college Mangalore started Aviation Management course for mangaloreans

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News Network
July 1,2020

Mangaluru, Jul 1: The Bajpe police station under the limits of Mangaluru City Police Commissionerate has been sealed down after an arrested accused was tested positive for the Coronavirus.

Police said on Wednesday that the Bajpe police arrested two persons in connection with plotting dacoity in Oddidakala in Bajpe. After the arrest, their throat swab was sent for a test. On Wednesday, one of the accused tested positive for the Coronavirus.

In this connection, the Bajpe police station has been sealed down and the police personnel who were present during the arrest are placed under home quarantine.

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News Network
February 19,2020

Bengaluru, Feb 19: A public interest litigation (PIL) has been filed in the Karnataka High Court, seeking a stay on Anand Singh functioning as Minister of Forests, Environment and Ecology contending that there are criminal cases filed against him by the Ministry.

"A stay be granted prohibiting Anand Singh from functioning as the Cabinet Minister for the Ministry of Forests, Environment and Ecology. Any other order that the Honourable Court may deem fit in the interest of justice and equity," the PIL prays.

The petition, filed by advocate Vijay Kumar, said that the Chief Minister has allocated the portfolio of the Ministry of Forests, Environment and Ecology to Singh without considering the fact that there are several criminal faces filed against him by the Ministry.

It said that the allocation of the Ministry of Forests, Environment and Ecology portfolio to Singh is in the conflict of interest.

"The holding of the post of Cabinet minister for the Ministry of Forests, Environment and Ecology is against public interest and completely in conflict of interest as he has business for which the subject Ministry is the overseeing authority and further he will also have access to the case files which again is in conflict of interest," the PIL said.

PIL adds that "it is pertinent and absolutely necessary" to deny the incumbent from accessing files related to his cases and from taking any decisions which may provide him with pecuniary benefits through his businesses.

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News Network
February 17,2020

Abu Dhabi, Feb 17: NMC Health Plc, a hospital operator targeted by short-seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid investor concern he faced a margin call and misrepresented his stake.

The board asked for Co-Chairman Shetty’s resignation and it takes effect immediately, according to a person with knowledge of the situation. NMC has lost four board members since Friday, including Vice Chairman Khaleefa Butti, whose holdings are also being probed. The stock, the worst performer on the FTSE-100 Index this year, fell as much as 9.2 percent Monday morning and then rebounded.

“The resignation of senior board members should be viewed positively,” said Abdulla Nahlawi, an analyst at Rasmala Investment Bank in Dubai. “The credibility of the current board has been jeopardized with the unfolding of the recent events.”

NMC shares lost almost half their value the first week of February on speculation the company’s main investors faced a margin call, in which banks seize shares pledged as collateral. NMC said Friday that First Abu Dhabi Bank and Al Salam Bank Bahrain obtained 20 million shares in the company from BRS International Holding, an investment vehicle of NMC’s top shareholders. The banks sold more than 8 million of those shares as “enforcement of security,” NMC said.

NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. The shares started teetering in mid-December when Muddy Waters alleged that NMC manipulated its balance sheet and inflated the prices of companies it acquired.

Shetty, 77, was born in India and founded NMC in the 1970s after moving to Abu Dhabi. His spokesman said a legal review of the situation is ongoing and declined further comment.

Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq also stepped down because they were appointees of Shetty and Butti, NMC said, adding that they had no knowledge of the share transfers.

Questions remain over the role of Shetty’s family at the company. His wife and son-in-law both hold roles in senior management.

Almost 10 per cent of NMC’s freely traded shares are shorted, according to Markit Securities data. In mid-December about a third of them were.

Last week GKSD Investment, an investment company backed by hospital investors, said it’s studying a possible offer for NMC. Under U.K. takeover rules, it has until March 9 to make a bid.

NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The review is due to be completed before the company issues its financial results in March, the person said.

NMC said Mark Tompkins will continue as the company’s sole chairman.

Comments

sunita kejriwal
 - 
Monday, 17 Feb 2020

BRS could not fool all the people all the time!

 

Bhakth
 - 
Monday, 17 Feb 2020

Illegal way of earning will not last for long. 

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