 "A view shows a Rosneft-operated Bombardier 6000 aircraft carrying a passenger, believed to be Chief Executive of Rosneft Igor Sechin, at Palmda de Mallorca airport, Spain. Photo: Reuters")
The government will need to amend regulations, waive duties and alter double tax avoidance treaties with other countries to make aircraft leasing business in India a reality, aviation sector experts have said.
In her maiden Budget on Friday, Finance Minister Nirmala Sitharaman said the government will create a regulatory framework to make India a hub for aircraft leasing and maintenance units for planes.
At present, Ireland serves as a base for top aircraft lessors because of its favourable tax laws. Last year, the Civil Aviation Ministry set up a working group to formulate policies to encourage domestic aircraft
In her maiden Budget on Friday, Finance Minister Nirmala Sitharaman said the government will create a regulatory framework to make India a hub for aircraft leasing and maintenance units for planes.
At present, Ireland serves as a base for top aircraft lessors because of its favourable tax laws. Last year, the Civil Aviation Ministry set up a working group to formulate policies to encourage domestic aircraft
