Presenting the Budget for 2018-19, Jaitley also said that the government has proposed expansion of airport capacity by more than five times to handle a billion trips a year under a new initiative.
"In the last three years, the domestic air passenger traffic grew at 18 per cent per annum and our airline companies placed orders for more than 900 aircraft," he said.
The regional air connectivity scheme or UDAN (Ude Desh ka Aam Nagrik) launched last year seeks to connect unserved and under-served airports as well as make flying more affordable for the masses.
"Sarkar ki iss pahal se hawai chappal pehnne wale nagrik bhi hawai jahaj mein yatra kar rahe hain (With this initiative, people wearing slippers are also travelling in aircraft)," Jaitley said.
With regard to expanding airport capacity, Jaitley said balance sheet of AAI would be leveraged to raise more resources for funding the expansion plans.
State-owned Airport Authority of India (AAI) manages 124 airports.
"Infrastructure is the growth driver of the economy. Our country needs massive investments, estimated to be in excess of Rs 50 lakh crore, in infrastructure to increase growth of GDP, connect and integrate the nation with a network of roads, airports, railways, ports and inland waterways and to provide good quality services to our people," Jaitley said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
