Parliament approves the bill associated with aircraft equipment, leasing well

New -Delhi, April 4 (IANS). Parliament has approved the bill associated with the safety of interests in cases of aircraft equipment during the budget session that ended on Friday. The bill was approved by the Lok Sabha on April 3, while it was passed in the Rajya Sabha on April 1. The purpose of this bill is to make the country’s aircraft rental and financing of ecosystem in line with world standards. This is an important step to further strengthen the confidence of investors in the country’s rapidly growing aviation market. The bill is based on the structure of the Cape Town Convention of 2001, which aims to simplify and standardize international rental agreements. India formally adopted this convention in 2008, but did not pass a law for it. This reduction will also be overcome after the president has been approved on this bill. Civil Aviation Minister Ram Mohan Naidu underlined the need for this law, saying: “There was a thinking behind this leap in Civil Aviation. There was a mission to fulfill the thinking and our Prime Minister Narendra Modi’s guidance to make the mission. He said the annual number of air travelers in the country was about 65 years of independence until 2014 10 million 38 lakhs. In the next ten years this number is more than doubled to 22 crore 81 lakhs in 2024. Similarly, the number of airports increased from 74 in 2014 to 159 in 2024. In addition, two more airports will begin soon. The minister also emphasized the increase in the number of aircraft, which increased from 340 to 2024 in 2014 to more than 840. He said: ‘These figures indicate that civil aviation in the country not only is growing – but that it is not a short time. Conference. These changes are needed to reduce the cost of aviation companies and encourage new airlines in the region. During the discussion on the bill, the widespread issues of the Civil Aviation sector also spoke, such as the high cost of the aviation turbine fuel (ATF), which is about 45 percent of the airline operating costs. The minister expressed concern about the variation in ATF tax in the states and also called on tax cuts that it has not yet done. He said: “Reducing this tax will increase regional connection and reduce the cost of passengers. In the light of the future, the Ministry of Civil Aviation has set ambitious targets for stability and capacity building.” With a plan to generate 2.5 million liters of sustainable aviation fuel (SAF) and turn more than 100 airports into renewable energy by 2025, India is taking a strong step towards Green Aviation. The demand for trained pilots in this area is also increasing. According to estimates, pilots from 30,000 to 34,000 will be required within the next 10 to 15 years. The minister said: “We are working to increase the number of flight training organizations (FTOs) and annually issue more commercial pilot licenses to meet this demand.” Ram Mohan Naidu confirmed the government’s long -term view. He said: “Civil aviation in the country doesn’t just mean flying aircraft. It means adding people, promoting the economy and creating opportunities. And we are committed to making the country a world leader in aviation.” -Ians Aks/AK