The Cabinet on Wednesday approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi. The Cabinet "has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/ products of technical textiles with a budgetary outlay of Rs 10,683 crore," Textiles Minister Piyush Goyal told reporters.
Sunil Bhaskaran, AirAsia India's chief executive officer (CEO) and managing director (MD), is the front-runner to head the low-cost carrier that will take birth after the merger of Air India Express and AirAsia India, sources said. In a show of confidence, the airline's board extended Bhaskaran's tenure by three years -- until March 2025 -- in a meeting held earlier this year, according to the documents reviewed by Business Standard. Moreover, AirAsia India's board of directors has increased Bhaskaran's salary twice in 2022 -- first in January by 5 per cent and then in June by 7 per cent, the documents showed.
More than 1,600 employees of Air India, the former state-run carrier now owned by the Tata group, have opted for voluntary retirement under a scheme announced on June 1. These employees comprise 22 per cent of permanent staff (around 7,000). The airline has a total employee strength of around 10,800, including those on contract.
In absolute numbers, India had only 211 start-ups compared to 970 in the US.
Sundays are generally quiet days for air travel, but this Sunday was a tad different. There was quite an excitement at Gate 28 of Mumbai airport's Terminal 1 as Akasa Air, India's newest airline, prepared to take to the skies on Day 1. With a new fuel-efficient Boeing 737 Max aircraft and soft cushioned seats equipped with USB ports, Akasa Air hopes to bring freshness to the flying experience.
Indian airlines have also been advised separately to give relief, an official said.
Presenting the Budget for 2020-21, Sitharaman said Rs 1.7 lakh crore has been provided for transport infrastructure in 2020-21.
These would include passenger engagement initiatives, consumer offers, and curated menus at food and beverage outlets.
They say it will have severe impact on their financial strength
In a major relief to passengers, whose flights got cancelled due to the Covid-19 lockdown, the Supreme Court on Thursday accepted the recommendations of the Director General of Civil Aviation (DGCA) to refund ticket fares and also approved a credit shell scheme which will be valid till March 31.
The number of such incidents stood at 25 in 2015, 31 in 2014 and 23 in 2013.
Details were not immediately available ahead of a planned government briefing.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
The carriers are divided over Patel's suggestions to increase tariffs.
It will also make up-to-date payment of productivity linked incentives for all licensed category employees between May and June.
Finance Minister Pranab mukherjee presents his 7th Budget.
Pilots's association says the ministry is not serious about its assurance.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
Want last year's bonus? Sell our tickets: Jet Airways tells travel agents.
Air India will introduce new flights and also increase frequency of flights on various sectors from March 28, when summer schedule comes into effect.
The government had earlier warned that the management was free to take any action against them.
National Aviation Company Ltd, which runs Air India, has constituted committees to review productivity-linked incentives and cost cutting measures. These will talk with the labour unions and report on Monday.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
An Air India spokesperson said that efforts are also on to pay productivity linked incentive arrears for October to employees soon.
As senior Air India pilots withdrew their agitation, Civil Aviation Minister Praful Patel on Wednesday said the airline would soon set up a committee, including representatives of the ministry and pilots, to work on a turnaround plan and discuss issues relating to their pay and incentives.
"I hope the entire airline (Air India) will come back to full operation from tomorrow (Wednesday), otherwise the Air India management will be free to take any decision that it feels is necessary," Patel said in a veiled threat.
After stiff resistance from its employees against a steep pay cut, National Aviation Company of India Ltd), which runs Air India, has come out with a fresh proposal to impose a 15-17 per cent cut on the total salary package.The total package includes basic salary, dearness allowance, house rent allowance and payments made under the productivity-linked incentive scheme . The cut, however, would not be applicable on 4000 employees.
Halving the productivity-linked incentive will make its salary levels unattractive and put a heavier burden on junior staffers.
An Iran Air flight carrying Indian pilgrims stranded in coronavirus-hit Iran landed at the airport in Mumbai on Friday afternoon, an official said.
Aviation regulator DGCA is likely to take a call shortly on allowing domestic airlines to charge for check-in baggage while providing incentives for passengers who travel light.
By contrast, only aeronautical activities are taken into consideration under the dual till principle.
The government is in the process of structuring a uniform performance-linked incentive scheme for Air India and Indian Airlines employees after the merger of the two airlines.
Last year, Jet Airways and Air France-KLM signed an enhanced cooperation agreement' for the development of their operations between Europe and India
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
SpiceJet had rolled out a scheme offering a discount of Rs 200 to every passenger who books a flight with only one handbag and no check-in baggage.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
The airports, which have been shortlisted from 50 cities and towns in remote areas and various unconnected regions across the country, would come up at Tezu (Arunachal Pradesh), Kishangarh (Rajasthan), Jharsuguda (Odisha), Hubli and Belgaum (Karnataka), Civil Aviation Minister Ashok Gajapathi Raju told reporters in New Delhi on Tuesday.
