Indian government has allowed 100% Foreign Direct Investment (FDI) for Greenfield airport projects under the automatic route. Up to 74% FDI is permitted for existing airport projects under the automatic route, above 74% and up to 100% is permitted under government approval route.
India has become one of the fastest growing aviation markets as compared to others. It is currently the ninth largest civil aviation market in the world.
The Income Tax Act provides presumptive taxation under Section 44AE in respect of assesses who are engaged in the business of plying, hiring or leasing goods carriages. The bill proposes to increase the amount of presumptive income to INR 7,500 per vehicle for all types of goods carriage vehicles.
Exemptions are provided under the Income Tax Act for infrastructure development under section 80 IA.