100 more airports to be developed by 2024 to support Udaan scheme, announces FM Sitharaman

Finance Minister Nirmala Sitharaman on Saturday announced during her Budget speech that 100 more airports would be developed by 2024 to support the Udaan scheme.

She also remarked during her Budget presentation that India's Air traffic has grown rapidly as compared to the global average and the air fleet number was expected to go up from the present 600 to 1200 during this time.

The Finance Minister proposed an allocation of Rs 22,000 crore for Power and Renewable Energy sector in 2020-21.

According to a Finance Ministry release, the Finance Minister urged all States and Union Territories to replace conventional meters by prepaid "Smart Meters" in the next 3 years and measures to reform DISCOMs.

Further, the Finance Minister proposed in the Budget that the national gas grid would be expanded from the present 16200 km to 27000 km with further reforms to be undertaken to facilitate transparent price discovery and ease of transactions.

She also proposed to extend corporate tax rate of 15 per cent to new domestic companies engaged in the generation of electricity.

Speaking about Inland Waterways, the Finance Minister announced that the "Jal Vikas Marg" on National Waterway-1 will be completed and further the 890 Km Dhubri-Sadiya connectivity will be done by 2022.

Sitharaman further said that plans are afoot on "Arth Ganga"- PM's vision to energise economic activity along the river banks. In order to boost the transport infrastructure in the country the Union Budget has provided for about Rs 1.70 lakh crore.