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Here’s a list of government and PSU jobs that you can apply for at RBI, SEBI, HAL, and AAI

<ul><li><keyword id="47439" type="General" weightage="20" keywordseo="AAI" source="Orion">AAI</keyword> is inviting applications from eligible diploma and degree holders who are residents of Maharashtra, Gujarat, Madhya Pradesh, and Goa for apprenticeship across various domains.</li><li>The online application to apply for the opportunity has already started and the last date for submission of applications is November 30.</li><li>Candidates would get a maximum stipend of ₹15,000 per month depending on the apprenticeship role.</li></ul><keyword id="54875" type="General" weightage="20" keywordseo="Airports-Authority-of-India" source="Orion">Airports Authority of India</keyword> (AAI) is inviting applications from eligible diploma and degree holders who are residents of Maharashtra, Gujarat, Madhya Pradesh, and Goa for apprenticeships across various domains. The online application to apply for the opportunity has already started and the last date for submission of applications is November 30. Candidates are not required to pay any application fees while applying for the role. The duration of the training would be one year from the date of joining. These are the apprenticeship roles available — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Role </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vacancies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stipend </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualification </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Engineering -- Civil apprentice </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bachelor’s degree in engineering or technology in civil engineering from a recognised institution. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication Navigation Surveillance apprentice </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bachelor’s degree in engineering or technology in electronics/telecommunication from a recognised institution. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Information Technology/ Computer Science apprentice </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bachelor’s degree in engineering/ technology in computer science/ computer engineering/ information technology (IT) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma apprentice (Mechanic/Auto) Engineering apprentice </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma in engineering or technology (mechanical/automobile) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma apprentice (Engineering -- Civil) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma in civil engineering </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma apprentice (Communication Navigation Surveillance) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma in electronics/telecommunication from a recognised institution </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma apprentice (Information Technology/Computer Science) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Diploma in engineering /technical in computer science/computer engineering/IT </td></tr></tbody></table> Rules and regulations — <ol><li>Candidates belonging to the states of Maharashtra, Gujarat, Madhya Pradesh and Goa from western region are eligible. </li><li>Candidates who have passed their respective degree or diploma on or after March 1, 2019 only are eligible. </li><li>The age limit for apprentices will be minimum 18 years and maximum 26 years as on October 31, 2021. Upper age limit is relaxed by 5 years for candidates belonging to scheduled castes (SC)/scheduled tribe (ST) &amp; persons with disability (PwD) and 3 years for candidates belonging to other backward class (OBC) category. </li><li>Candidates applying for more than one discipline will not be considered and their application will be rejected. </li><li>Applications without supporting documents/incomplete/not fulfilling the prescribed criteria in any respect shall be rejected. </li><li>Requests for change in mailing address/ category/ discipline/ qualification once declared during registration on AAI web portal will not be entertained.</li></ol> Selection procedure for AAI apprenticeship — <ol><li>Selection for engagement of apprentices would be based on percentage of marks in the qualifying examination. </li><li>The candidature of the applicant would be provisional. The selection will be done based on the interview and verification of certificates/testimonials and submission of Certificate Of Medical Fitness which has to be obtained only from a gazetted government medical officer/medical officer of a government undertaking at the time of joining. </li><li>Police verification certificate to be obtained from the local area of residence. </li><li>The shortlisted candidates will be called for interview and document verification through their registered e-mail ID only. </li></ol>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-to-get-refund-if-nykaa-ipo-not-allotted/articleshow/87594530.cms">Not received Nykaa IPO refund? Here are the things you should know about</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/paytm-ipo-was-subscribed-18-on-day-1-todays-the-second-day-to-subscribe/articleshow/87588205.cms">India’s biggest IPO was subscribed 18% on Day 1, today is the second day to subscribe</a>

Airports Authority of India is hiring 63 apprentices across various domains with a stipend of ₹15,000 per month

When the Modi government announced its first budget in 2014-15, the government of the largest democracy had allocated Rs 1.91 trillion for infrastructure development. Growing at a breathtaking phase through the consecutive budgets of the National Democratic Alliance (NDA) and touching Rs 4.94 trillions in 2017-18, the infrastructure sector received a push of Rs 5.97 trillions in the budget 2018-19. For <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s government, infrastructure development of the country has been a prime focus area. While making his budget speech while presenting 2018-19 budget, <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, the Finance Minister remarked, “Our country needs massive investments estimated to be in excess of Rs 50 lakh crores 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." In order to the augment the resources, the government levied a road and infrastructure cess of Rs 8 per liter on the petrol and diesel imported. Jaitley said, “The government and market regulators have taken necessary measures for development of monetizing vehicles like Infrastructure Investment Trust (InvIT) and Real Estate Investment Trust (ReITs) in India. The government would initiate monetizing select CPSE (central public sector enterprises) assets using InvITs from next year." The latest economic survey reveals that such measures will be operationalized provided the country will face a $526 billion gap in the investment towards infrastructure development. Jaitley added, “Reserve Bank of India has issued guidelines to nudge corporates to access the bond market. Sebi (Securities and Exchange Board of India) will also consider mandating, beginning with large corporates, to meet about one-fourth of their financing needs from the bond market." Announcing the most innovative and integrated infrastructure planning model, the National Democratic Alliance government launched the country’s largest ever rail and road budget through budget 2018-19 that saw an allocation of Rs 1.48 trillion and Rs 1.21 trillion respectively. Way back while announcing the 2017-18 budget, Arun Jaitley said the cabinet had given a nod to the most ambitious Bharatmala (roads) scheme that will significantly strengthen the country’s roads network. To support this massive allocation requirement, the government said Rs 5.35 trillion as equity from the market. Jaitley’s talk emphasized that the nation required funds for some ambitious plans Sagarmala (ports) and Bharatmala to enhance its transport infrastructure to meet the growing needs of the largest democracy effectively. “To raise equity from the market for its mature road assets, NHAI will consider organizing its road assets into special purpose vehicles and use innovative monetizing structures like toll, operate and transfer (TOT) and Infrastructure Investment Funds (InvITs)," stressed Jaitley. Though the 2017-18 budget allocated Rs 73.31 crores for Airports Authority of India (AAI) from Rs 149.93 crores in 2017-18, AAI had to raise Rs 4,086 crores. While commenting on the line of budgets by the NDA government headed by Narendra Modi, Jaijit Bhattacharya, partner and head, economics and regulatory at consultancy firm KPMG remarked. “The budget demonstrates a very significant push on infrastructure, including rural infrastructure, as well as for immediate job creation as well as supporting long-term employability through education and skill development is very encouraging."

A look at budget allocation for infrastructure under the Modi government

The COVID-19 unleashed headwinds which have deeply impacted the airline and hospitality sector, now pose a major risk to the job security of over 2,00,000 workforce employed with the country's private airport operators. Accordingly, the <keyword id="8906128" type="COMPANY" weightage="20" keywordseo="association-of-private-airport">Association of Private Airport</keyword> Operators (APAO) has urged the Centre to come out with an economic relief package not only to stop downsizing but also to maintain the key infrastructure assets that the sector maintains. At present, approximately 2,40,000 people employed on airport sites, including airport operators' employees jobs are at stake. The downsizing impact will be felt across the country as New Delhi, Mumbai, Bangalore and Hyderabad are some of the major airports which are handled by private entities. Currently, no foreign or domestic passenger flight operations are allowed till the deadline of April 14. Only cargo operations are taking place there by hitting the bottom lines of these companies. Not only is the income low but these entities are also in stress for paying up a huge chunk of the revenue to the government under the various management deals of respective airports. "We have approached the government requesting to immediately provide certain relief measures for the private airport operators, which will directly alleviate the financial burden for airports due to the COVID-19 outbreak," Satyan Nayar, Secretary General, Association of Private Airport Operators told IANS. "In the absence of any relief measures it is just a matter of days and not months that the operators might go in for a massive downturn to contain costs. This sector won't be able to sustain the manpower, it does right now." According to Nayar, the industry has sought deferment of taxes and other statutory dues, and one time waiver of revenue share being paid to state run pa rtner entities (AAI). "Plus as an infrastructure provider we need urgent lending lifelines to maintain and keep ready these critical facilities," he said. "India's air traffic in 2020 might plunge heavily. This will cause defaults on our side as well as airlines and other related sectors such as hospitality and tourism. It is vital that the government quickly moves to institute relief measures." Recently, Moody's Investors Service has downgraded the rating of <keyword id="4612385" type="COMPANY" weightage="20" keywordseo="delhi-international">Delhi International</keyword> Airport Limited, the firm which manages the IGI Airport's (DIAL) to Ba3 from Ba2. "The downgrade to Ba3 reflects our expectation of a sharp decline in passenger and aircraft traffic at Delhi Airport in the coming months and the uncertainty over the timing and extent of a recovery, which coincides with increased debt issuance as the airport enters the peak stage of its Rs 98 billion expansion project," Spencer Ng, a Moody's Vice President and Senior Analyst said in a report. Furthemore, Moody's Investors Service has placed GMR Hyderabad International Airport Limited's (HIAL) Ba1 corporate family rating (CFR) on review for po ssible downgrade. Similarly, <keyword id="125045" type="COMPANY" weightage="20" keywordseo="Fitch-Ratings">Fitch Ratings</keyword> revised the outlook on DIAL's Long-Term Issuer Default Rating (IDR) and bond issue ratings to "Negative from Stable, and affirm ed the ratings at 'BB+'". Fitch Ratings also affirmed GMR Hyderabad International Airport Limited's "Long-Term Issuer Default Rating (IDR) and its bond issue ratings at 'BB+' with a Negative Outlook". On its part, Angela Gittens, Director General of Airports Council International (ACI) in a letter dated March 31st to Prime Minister Narendra Modi said that revenue forecasts show the 2020 impact of the pandemic now stands at $23.9 billion for Asia-Pacific only, impacting airports of all sizes. "Analysis of preliminary weekly passenger data from January to the middle of March at 12 major hubs in Asia-Pacific handling around 22 per cent of traffic in the region, including <keyword id="89772" type="LOCATION" weightage="20" keywordseo="Indira-Gandhi-International-Airport">Indira Gandhi International Airport</keyword>, shows the increasing traffic deterioration, culminating in an average decrease in traffic by more than 80 per cent by the second week of March compared to the same period in 2019," Gittens said. "Airports are the engine of your national economy in terms of jobs created and GDP growth... Every passenger lost by an airline is equally a passenger lost by an airport. We would urge your Authority to provide relief measures for the aviation sector to benefit all affected parties of the aviation sector and which will be strategic for the relaunch of the economy as soon as the crisis is over." SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Coronavirus risks over 2 lakh private jobs at airports; private airport body seeks intervention

<ul><li>The <keyword id="170366" type="General" weightage="20" keywordseo="navratna-companies" source="Orion">Navratna companies</keyword> are CPSE units that have been granted financial autonomy to invest up to ₹1,000 crore without seeking approval from the central government. </li><li>This increased financial freedom gives <keyword id="111281" type="General" weightage="20" keywordseo="navratna" source="Orion">Navratna</keyword> companies a competitive edge when competing globally. </li><li>A Navratna company is upgraded to a Maharatna company when it fulfils the required eligibility criteria. </li></ul>The Ministry of Finance elevated Rail Vikas Nigam Limited (<keyword id="240577" type="General" weightage="20" keywordseo="rvnl" source="Orion">RVNL</keyword>) to the status of a Navratna Central Public Sector Enterprise (CPSE) on Wednesday. RVNL, a public-sector railway company, has already been on <a href="https://www.businessinsider.in/stock-market/news/this-railway-stock-is-buzzing-for-record-returns-on-strong-orders/articleshow/99786491.cms">investors’ radar recently </a>because of a strong rally in the stock led by robust orders. Let us take a look at what it means to be a Navratna CPSE. The term ‘Navratna’ refers to a select group of top-performing CPSEs that have been granted greater autonomy and financial powers by the Indian government in recognition of their superior performance. The term ‘Navratna’, meaning nine gems, is used metaphorically to suggest that these companies are like the nine precious gems that shine brightly in the crown of Indian PSEs. With RVNL added to the list, there are 13 Navratna companies The Navratna status was first granted to nine public sector enterprises in 1997 by the Indian government. Since then, a few more enterprises were added to this exclusive group based on their performance and on meeting the eligibility criteria. Currently there are 13 Navratnas, including RVNL. These are: <ol><li>Shipping Corporation of India (SCI) </li><li>Hindustan Aeronautics Limited (HAL) </li><li>Rashtriya Ispat Nigam Limited (RINL) </li><li>Engineers India Limited (EIL) </li><li>NMDC Limited </li><li>Bharat Electronics Limited (BHEL) </li><li>National Buildings Construction Corporation (NBCC) </li><li>Oil India Limited (OIL) </li><li>Mahanagar Telephone Nigam Limited (MTNL) </li><li>Container Corporation of India (CONCOR) </li><li>National Aluminium Company (NALCO) </li><li>NLC India Limited (NLCIL) </li></ol>The number of Navratnas went as high as 14 but since two companies were elevated to the status of a Maharatna – Rural Electrification Corporation (REC) in September 2022 and Power Finance Corporation (PFC) in October 2022 – the number of Navratnas now stands at 13, including RVNL. The ‘Ratnas’ of the Indian public sector CPSE units are categorised as Maharatna, Navratna and Miniratnas. Navratna: First, let us look at the Navratna companies. Normally, a CPSE requires permission from the Indian government to invest a large sum of money in a project or a deal. The Navratna companies are CPSE companies that have been granted financial independence to invest up to ₹1,000 crore without seeking approval from the central government. Navratna companies are also allowed to invest up to 15% of their net worth on a single project, or 30% of their net worth in a given year, subject to a cap of ₹1,000 crore. This increased financial freedom gives Navratna companies a competitive edge when competing globally. Maharatna: To be granted "Maharatna" status, a company must meet certain eligibility criteria. This includes recording a net profit of more than ₹5,000 crore for three consecutive years, maintaining an average annual turnover of over ₹25,000 crore for three years, or having an average annual net worth of over ₹15,000 crore for three years. Additionally, the company must have a global presence or international operations to qualify for this status. When a Navratna company achieves these criteria, it is upgraded to a Maharatna company. Currently, there are 12 Maharatna companies including Bharat Heavy Electricals Limited (BHEL), Bharat Petroleum Corporation Limited (BPCL), Coal India Limited (CIL), and Gas Authority of India Limited (GAIL). Miniratna: In India, CPSEs that are eligible for the Miniratna status are those that have a minimum pre-tax profit of ₹30 crore in at least one of the three consecutive years and maintain a positive net worth. Some of the Miniratna companies are Airports Authority of India (AAI), Antrix Corporation Limited (Antrix), Balmer Lawrie &amp; Co. Limited (Bl), and Bharat Coking Coal Limited (BCCL), Miniratna companies are upgraded to Navratna companies when they fulfil the eligibility criteria, just like RVNL. Jobs at Maharatna, Navaratna and Miniratna companies are in high demand since they pay a handsome salary in addition to providing job security. Also, public sector undertakings (PSUs) are known for taking good care of their employees by providing various benefits such as medical facilities, emergency allowances and sufficient leave options.

RVNL is now a Navratna company – what does it mean?

New Delhi, May 16 () The government's announcements for civil aviation sector breathe some life into the coronavirus pandemic-hit sector and will provide overall positive sentiment, experts said on Saturday, even as some of them emphasised the need for support for airlines. On Saturday, Finance Minister Nirmala Sitharaman announced plans for managing airspace efficiently, making the country a MRO (Maintenance Repair and Overhaul) hub, and auctioning of six more airports on PPP model. GMR Group Chairman G M Rao said India is leading the growth of civil aviation sector globally and is generating significant economic impact. According to him, rationalising Indian airspace is a significant step that would benefit not only the entire sector but also bring down travel time for passengers. Privatising six new airports under public-private partnership (PPP) model would generate significant economic effect and would lead to creation of new jobs. "Likewise, tax incentives for the MRO sector will not only bring foreign investment into India and impact the economics of the airlines but will also open up new opportunities for youth to build careers. The investments being made in airports, privatised in the first two phases, are already leading to enhanced job creation in both aero and non-aero areas," he said. GMR Group manages two airports -- Delhi and Hyderabad -- through PPP model. Welcoming the announcements, GVK Group founder and Chairman G V K Reddy said the move to have PPP model for six more airports would provide the Airports Authority of India (AAI) resources to develop smaller airports across the country. "The plans to make India a global MRO hub will ensure savings of precious foreign exchange and enable Indian airlines to get their aircraft serviced locally," he said. GVK Group manages Mumbai airport through PPP model. Consultancy EY India's Transaction Partner Kuljit Singh said the announcements are good initial first steps and this might be followed by a second phase of reforms package. "... the second phase may need to have more reforms in taxes on fuel, subvention for airport charges, government guarantees for additional unsecured borrowings of private airlines etc," he noted. Law firm Cyril Amarchand Mangaldas' Partner Ajay Sawhney said that today's announcement breathe some life into the pandemic-hit civil aviation sector, but no mention of bailouts on an immediate basis may attract mixed response from the industry. "Though, easing curbs on airspace would certainly bring in long term efficiency, and on an immediate basis some relief to the airlines, but a more meaningful intervention may be required if the aviation sector is not on the recovery path soon," he noted. Travel portal EaseMyTrip.com Chairman and CEO Nishant Pitti said the announcements would definitely provide positive sentiments for the industry overall. "In addition for industry to withstand the recovery period, government will need to support the backbone, airlines, in these turbulent times through tax relief or relaxation in multiple charges paid by airlines to reduce their costs," Pitti said. Vasudevan S, Partner (Infrastructure Government and Healthcare) at consultancy KPMG in India said the aviation sector is the hardest hit because of the global pandemic with an estimated USD 500 billion loss in airline and airport revenues in FY20. Airport PPP transactions will help unlock value for AAI and state governments, given current investor interest and long-term potential of the Indian market. "Rationalising the MRO tax structure has been a long pending demand of the industry and it is good to see that happening finally, but more needs to be done to create a level playing field, attract foreign investment and make it profitable," he noted. Care Ratings Chief Economist Madan Sabnavis said aviation sector has incentives as six airports would have PPP model, but the "question is who will invest now when future of airlines is uncertain". Consultancy Deloitte India Partner Peeyush Naidu said the initiative for private sector participation for operations, management and development of airports is well-intentioned. IAS GDK RAM RVK

Govt measures will provide positive sentiment for civil aviation sector: Experts

<ul><li>As many as 94 airports out of the 129 airports owned and managed by Airports Authority of India (AAI) were in red in FY 2017-18. </li><li>The situation was similar in the fiscal 2016-17 when AAI reported that 90% of their airports were in loss. </li><li>The revenue of the airports isn’t adequate to balance out their high operating costs. </li></ul><keyword id="457471" type="PERSON" weightage="20" keywordseo="Airports-in-India">Airports in India</keyword> seem to be struggling financially for quite some time now. India’s Civil Aviation Minister, <keyword id="6356597" type="PERSON" weightage="20" keywordseo="suresh-prabhu">Suresh Prabhu</keyword>, said that three-fourths of the airports handled by Airports Authority of India (AAI) were running in loss in fiscal 2017-18. However, AAI has been taking several steps to make these airports profitable, <a href="https://www.zeebiz.com/india/news-state-of-aviation-in-india-94-aai-airports-suffered-losses-in-2017-18-says-govt-78631">reported</a> Press Trust of India. As many as 94 airports out of the 129 airports owned and managed by AAI reported losses last year mainly because they weren’t able to make enough revenue to balance out their total expenditure. The situation is no different from the previous fiscal year. In 2016-17, over 90% of the airports owned by Airports Authority of India reported losses. Further, only eight airports were profitable, <a href="https://www.business-standard.com/article/economy-policy/low-or-lack-of-operations-leads-to-losses-at-90-aai-airports-117022701245_1.html">reported</a> The New Indian Express citing government data. The government has tried to help the <keyword id="45911" type="PERSON" weightage="20" keywordseo="Aviation-sector">aviation sector</keyword> in part by <a href="https://www.businessinsider.in/india-will-privatise-the-management-of-six-more-airports-to-improve-countrys-aviation-infrastructure/articleshow/66556850.cms">leasing out six airports</a> under the Public Private Partnership model. The approval of privatisation of these airports is likely to enhance the revenue to AAI and increase the economic development in the concerned areas in terms of job creation and related infrastructure. The financial state of the airports is a major setback for the Indian government which is trying to develop airports across countries through its regional connectivity scheme (RCS), pointed out, Financial Express.

Nearly three-quarters of airports in India ran a loss last year

<ul><li>Indian government approves private management of six more airports, adding to the list under the Public Private Partnership (PPP). </li><li>Delhi, Mumbai, Bangalore, Hyderabad and Cochin airports are currently managed under the PPP model. </li><li>PPP has not just created world-class airports, but has also helped the Airport Authority of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> to enhance its revenues. </li></ul>The Union Cabinet on Thursday approved the leasing out of six airports -- <keyword id="5065" type="LOCATION" weightage="20" keywordseo="Ahmedabad">Ahmedabad</keyword>, <keyword id="6354779" type="LOCATION" weightage="20" keywordseo="Jaipur">Jaipur</keyword>, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru -- for operation, management and development under the Public Private Partnership (PPP). The cabinet provided "in-principle" approval for leasing out the airports under the PPP model, said an official statement. Currently, the airports being managed under the PPP model include Delhi, Mumbai, Bangalore, Hyderabad and Cochin. "While these PPP experiments have helped create world class airports, it has also helped AAI (Airports Authority of India) in enhancing its revenues and focusing on developing airports and air navigation infrastructure in the rest of the country," it said. As per the Civil Aviation Ministry statement, PPP in infrastructure projects brings efficiency in service delivery, expertise, enterprise and professionalism apart from harnessing the needed investments in the public sector. The decision to lease the airports under the PPP model is expected to enhance the revenue to AAI and increase the economic development in the concerned areas in terms of job creation and related infrastructure, as per the statement.

India will privatise the management of six more airports to improve country’s aviation infrastructure

There were several key messages from the budget this year, but the three which seem to stand out are in the areas of boosting infrastructure growth, reinvigorating rural demand and the rebooting financial sector. 
 
For boosting infrastructure, the roads sector is given an unprecedented Rs 97,000 crore of investment allocated in this year's budget. It is expected to have a multiplier effect on the economy in the coming years and help in efficient transportation. This along with the Rs 1.21 lakh crore CAPEX in railways seems to be a major thrust of the union government going ahead. 
 
The government is expected to approve 10,000 km of National Highways in Fiscal 2016-17 apart from the plan to upgrade 50,000 Km of state highways to national highways. 
 
Apart from this, the move to develop airstrips of AAI in some of the towns in India is another positive step concerning infrastructure. Similarly, the plan to reinvigorate PPPs in infrastructure is also a positive one which may help private sector step in for some investment. 
 
Second, for reinvigorating rural demand two related sectors have been targeted. One is the agriculture sector which has seen two back to back seasons of scanty rainfall. For the farmers in the sector, the announcement of a Fasal Bima Yojana will provide relief. And so will the move to create irrigation infrastructure through the strengthening of the Pradhan Mantri Krishi Sinchai Yojana over the long term. 
 The creation of the e-platform for farmers to sell their produce in wholesale markets across the country will aid in more freedom to the farmers to sell their produce. The change in the APMC Act in 12 states about the same is a progressive step. For the rural sector, which is the second sector, the structural step to give more funds to Panchayats and Municipalities (Rs 2.87 lakh crore) as per the recommendations of the Fourteenth <keyword id="74136" type="ORGANIZATION" weightage="20" keywordseo="finance-commission">Finance Commission</keyword> is taken. It is an appropriate step as it will lead to a massive devolution of funds to the third tier of governance. Similarly, the steps for development of urban clusters for market access and job generation will aid in strengthening the rural economy in the long term. The substantial allocations to MGNREGS (Rs 38500 crore) and the rural sector overall (Rs 87,765 crore) underlie the impetus that is being given to rural economy and demand in the sector. 
 
Third, another major focus area for the budget has been addressing the challenges of the financial sector. The introduction of the comprehensive Code on Resolution of Financial Firms in Parliament, as well as the code on Bankruptcy when enacted, will help in resolution as well as help bring in more accountability in the financial system. Also, the PSU banks have been facing problems due to asset quality and rising NPA. 
 
In addition to the comprehensive INDRADHANUSH already being implemented, the budget has done well to provide an allocation of Rs 25,000 crore for the recapitalisation of PSU banks. Also, the motivation to solve people's problem at the retail level are worth mentioning. These include the intent to tackling the issue of illicit deposit taking schemes as well as the intent to provide better access to financial services in rural areas through the rollout of ATM's and Micro ATM's over the next three years. 
 
Apart from these broader sectors other things where the government has done well at the macro level include sticking to the fiscal deficit target of 3.9 percent and 3.5 percent for the years 2015-16 (R) and 2016-17 (B) respectively. 
 
The government has also announced a committee to look into the FRBM Act, 2003 which is a good thing considering that market conditions in India are different than they used to be in the past. On the personal tax front, not much is seen for the middle class and the EPF taxation seems to be a negative move that has seen some visible backlash on social media. Another negative on the personal front seems to be on duties on several items where almost everything seems to get expensive from jewellery to cars to mobile phones to air travel. The only thing that is getting cheaper it seems are shoes and footwear. All in all the budget seems to be good for the rural economy and infrastructure sector and seems to take care of the financial sector problems at hand but leaves much to done for the middle class. 
 
 
(The article is co-authored with Sankalp Sharma, Senior Researcher at the Institute for Competitiveness, India. Amit Kapoor is Chair, Institute for Competitiveness &amp; Editor of Thinkers. The views expressed are personal. Amit can be reached at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a> and tweets @kautiliya)

Three key things that standout from other measures in Budget 2016

While industrial growth triggered by the first leg of economic liberalisation in early nineties led to a sea change in India’s social fabric over the last couple of decades, <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">aviation</keyword> stands apart as a sector that is capable of fuelling drastic changes in terms of <keyword id="47276" type="UNKNOWN" weightage="20" keywordseo="Economic-growth">economic growth</keyword>. 
 In fact, for more than 40 years since independence, Indian aviation was a public sector monopoly, with <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword> and <keyword id="1446" type="CITY" weightage="20" keywordseo="indian-airlines">Indian Airlines</keyword> as the two only operators serving the domestic and international market respectively. Liberalisation changed this for better as air taxi operators were allowed to serve the domestic market. While many private airlines entered and exited, a few players including Jet Airways survived the initial turbulence. 
 
The government’s decision to deregulate international air traffic in 2004 allowed private Indian carriers to extend their services to international routes. Leveraging positive policy ambience, airlines such as IndiGo and SpiceJet carved a niche for themselves by adopting a low-cost business model. 
 A few factors such as foreign direct investment (<keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword>) in domestic airlines, low-cost carriers (LCC), information technology (IT) interventions and a rising need for regional connectivity have pushed the growth in the domestic aviation space. 
 
These have catapulted the size of Indian aviation to $16 billion, making it one among the top 10 aviation markets in the world and leading to bullish outlook among industry watchers. “The new entrants have now better business models to keep the business sustainable,” says Charles Dhanaraj, professor of Strategy and Global Leadership at IMD, Lausanne, Switzerland. 
 In terms of additional passengers per year, India is expected to be among the top five air domestic travel markets globally by 2034, according to the <keyword id="6407098" type="ORGANIZATION" weightage="20" keywordseo="International-Air-Transport-Association">International Air Transport Association</keyword> (IATA). 
 Aircraft movements, passengers and freight at Indian airports are expected to grow at 4.2 %, 5.3% and 5%, respectively, for the next five years, according to estimates by <keyword id="54875" type="ORGANIZATION" weightage="20" keywordseo="Airports-Authority-of-India">Airports Authority of India</keyword> (AAI). “A major underexploited opportunity is the domestic freight transport. 
 
There is increasing potential for moving high value goods domestically through air freight where there will be more movement in the coming years,” says Charles. 
 
Investment galore Significant growth in FDI inflows and a slew of government initiatives provided fodder for the sector’s transformation. FDI inflows in air transport during April 2000 to November 2014 stood at $543 million, as per data released by Department of Industrial Policy and Promotion (DIPP). Recent investments from private players include IndiGo’s order for 250 A320neo airplanes from Airbus for $25.5 billion; AirAsia’s plans to add 10 more aircraft to its fleet by end of 2015, taking its total fleet to 15 aircraft; <keyword id="137192" type="ORGANIZATION" weightage="20" keywordseo="Star-Alliance">Star Alliance</keyword> plans to turn New Delhi’s T3 and Mumbai’s T2 Terminals into hubs; and the pact signed by Vistara, the airline by the Tata Group-Singapore Airlines (SIA) alliance, with SITA for aircraft communications, airline operations and network connectivity. According to Charles, the entry of Vistara and the growing interest of the foreign investors to be part of the growth of Indian aviation will propel the system. 
 
Government initiatives 
The government, which has been bullish about pushing the sector’s growth, has projected that around 500 airports would be required by 2020. It has already approved the construction of five budget airports to improve regional connectivity and work on them will start from FY15 and launched tourist visa on arrival (TVoA) enabled by electronic travel authorisation (ETA) to 43 countries besides plans to privatise national airline Air India. Also, the Ministry of Civil Aviation also plans to list Airports Authority of India and Pawan Hans on the stock exchanges. 
 
The private sector is sought to be involved in a big way through the PPP model, with significant state support in terms of financing, concessional land allotment and tax holidays. 
 
Air Costa is one of the carriers that aim to leverage the expected growth in air transport between tier 2 and 3 cities. “We aim to tap the burgeoning tier II market by stimulating growth through better air connectivity to the tier I cities. Our choice of Embraer aircraft (E170 with 67 seats and E190 with 112 seats) complements this vision. From operating two Embraer aircraft to 4 destinations with 300 employees, we have grown to 4 aircraft serving 9 destinations with close to 750 employees within a year,” says Air Costa CEO Capt. KN Babu. 
 
Economy, Trade and Tourism 
The aviation sector meets growing transportation needs of consumers—airlines registered in India carry 50 million passengers and 1.1 million tonnes of freight a year to, from and within India; more than 130,000 international flights depart India annually destined for 70 airports in 50 countries; domestically, more than 664,000 flights make 89 million seats available to passengers annually, destined to 73 airports. It also offers better connectivity—for instance, daily, there are 8 flights between Delhi and Dubai and more than 59 flights from Delhi to Bombay. The sector makes significant contribution to Indian <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> and provides millions of jobs. 
 
Among customers of airlines serving Indian airports, 76 per cent are local residents who get an economic benefit estimated to be worth INR 832 billion annually. 
 
This is in addition to the long-term benefits to the economy. Through investments and use of advanced technology, the aviation sector generates more gross value added (GVA) per employee than the economy as a whole, raising the overall productivity of the economy. 
Benefits are also accrued to the economy through the growth of ground-based infrastructure including airport facilities and the aerospace manufacturing space. 
 
Air transport lies at the heart of Indian tourism. Through its speed, convenience and affordability, air transport has expanded the possibilities of travel for tourists and business travelers alike, allowing an ever greater number of people to experience diversity of culture. 
 
Tourism, both for business and leisure purposes, makes a large contribution to the Indian economy, with foreign visitors spending over Rs 548 billion in the Indian economy each year. Around 89% of these visitors arrive by air, which means foreign visitors who travel by air spend approximately Rs 488 billion. 
 
Considering air freight makes up 34.6% of the value of global trade, aviation also provide a huge fillip to trade in the country. 
 
Hampering environment 
However, the growth of aviation happens at the cost significant damage to the environment, including contribution to global warming. Aviation contributes to climate change by altering the composition of atmospheric gases. In addition to CO2, emissions from aviation combustion processes comprise NOx, SOx and VOC which pollute the fabric of atmosphere. 
 
According to Intergovernmental Panel on Climate Change (IPCC), CO2 emissions will grow 2.8% annually between 2000 and 2050 and are projected to make up 16% of total transportation carbon emissions, pointing to the need for a shift towards solar powered aircrafts in the long run. IPCC also calculates the climate impact of aviation to be 1.96 times that of CO2 impact. In addition to its contribution to climate change, aviation hampers ambient air quality, affecting public health. This is besides the negative environmental impact of noise pollution contributed by the growing number of aircraft. 
 
Against the background of Modi government’s Land Acquisition Bill, which aims to ease the process of acquisition of land for industrial purposes, land acquisition for the proposed airports too will prove to be a tough nut to crack both politically and economically. 
 
While the government's decision to allow airlines to import jet fuel will help airlines cut fuel costs by up to 20 per cent, lack of infrastructure at the hands of local airlines to import fuel directly would mean domestic carriers continuing to pay heavy federal and state taxes for buying fuel from domestic oil firms, adding to the debt pile-up of airlines most of which are losing money. 
 
There are also concerns about supporting infrastructure and taxation. “There is a huge need for up gradation of the airports at tier 2 cities where the major growth should happen, “ says Charles. “There is still scope for improvement in the airport infrastructure. Another concern is over-taxation – central and state taxes on fuel and maintenance as well as service taxes on air tickets are likely to hamper growth,” says Ramesh Lingamaneni, chairman of Air Costa. 
 
However, the clear silver lining is the expected growth in the number of aircraft as well as domestic and international passengers from India. This projected growth, along with India’s low air traffic density—72 compared with 282 in China and 2,896 in the US—signals a huge untapped potential, considering rising disposable income levels and the burgeoning young population. 
 
As IATA CEO Tony Tyler put it, the world is focused on Indian aviation – from manufacturers, tourism boards, airlines, global businesses to individual travellers, shippers and businessmen. Consensus among these stakeholders, right policies and focus on quality, cost and passenger interest will transform India to one of the largest aviation markets within a couple of decades. 
 
Image: thinkstock

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