{"id":11818,"date":"2024-07-29T18:29:27","date_gmt":"2024-07-29T12:59:27","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/"},"modified":"2024-07-29T20:12:45","modified_gmt":"2024-07-29T14:42:45","slug":"the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani","status":"publish","type":"post","link":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/","title":{"rendered":"&#8220;The Budget is a Promising Step Towards Job Creation and Infrastructure Development,&#8221; Says Sky One Group Chairman Jaideep Mirchandani"},"content":{"rendered":"<p style=\"text-align: justify;\">The Union Budget presented by Finance Minister Nirmala Sitharaman on July 23, is particularly significant for Indias aviation sector because of its sharp focus on the generation of employment opportunities, investment in the maintenance, repair and overhaul (MRO) segment, along with infrastructure development. In order to promote domestic aviation, boat and ship MRO, the finance minister also said in her Budget speech, &#8220;<em>I propose to extend the period for export of goods imported for repairs from six months to one year. In the same vein, I propose to extend the time limit for re-import of goods for repairs under warranty from three to five years<\/em>.&#8221;<\/p>\n<p style=\"text-align: justify;\"><strong>Jaideep Mirchandani, Group Chairman Sky One<\/strong><\/p>\n<p style=\"text-align: justify;\">\nAviation experts believe this step can prove to be instrumental in turning India into an important MRO hub. &#8220;<em>The decision to incentivise MRO activities for aviation will help boost the sector within the country, which currently depends heavily on services outside of India. Gradually, this decision can help attract more foreign aviation players for repairs in India. Moreover, the uniform tax of 5 per cent in integrated goods and services tax (IGST) rate announced earlier on all aircraft and aircraft engine parts will also significantly benefit the MRO business<\/em>,&#8221; says <strong>Jaideep Mirchandani, the group chairman of aviation major Sky One<\/strong>.<\/p>\n<p style=\"text-align: justify;\">\nEarlier this year the Government announced the implementation of a 5 per cent IGST rate on all aircraft and aircraft engine parts from July 15 onwards. Before that, the IGST rates on all aircraft and engine parts were in the range of 5 per cent to 28 per cent.<\/p>\n<p style=\"text-align: justify;\">\nMeanwhile, the budgetary allocation for the Civil Aviation Ministry, though reduced from the previous year, is Rs 2,357 crore for 2024-25, with the Regional Connectivity Scheme (RCS) receiving Rs 502 crore for the same period.<\/p>\n<p style=\"text-align: justify;\">\nAccording to <strong>Mr Mirchandani<\/strong>, the focus on the RCS will help improve air connectivity and infrastructure development, particularly in Tier-2 and Tier-3 cities. &#8220;<em>The budget allocation is an important and promising step towards job creation for the youth, infrastructure development and the creation of a skilled workforce. The government&#8217;s commitment to maintaining robust fiscal support for infrastructure over the next five years, with a capital expenditure allocation of Rs 11.11 lakh crore at 3.4 per cent of GDP, highlights its dedication to fostering sustainable economic growth and enhancing our nations foundational assets<\/em>,&#8221; he says.<\/p>\n<p style=\"text-align: justify;\">\nThis substantial investment is poised to drive growth and innovation in India&#8217;s aviation sector, he concludes.<\/p>\n<p>Featured Article<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Budget presented by Finance Minister Nirmala Sitharaman on July 23, is particularly significant for Indias aviation sector because of its sharp focus on the generation of employment opportunities, investment in the maintenance, repair and overhaul (MRO) segment, along with infrastructure development. In order to promote domestic aviation, boat and ship MRO, the finance &hellip;<\/p>\n","protected":false},"author":1,"featured_media":11819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3490,8505,9008,9009],"class_list":["post-11818","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business-english-news","tag-economic-growth","tag-employment-opportunities","tag-government-spending","tag-public-investment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&quot;The Budget is a Promising Step Towards Job Creation and Infrastructure Development,&quot; Says Sky One Group Chairman Jaideep Mirchandani - Matribhumi Samachar English<\/title>\n<meta name=\"description\" content=\"Read about the promising step towards job creation and infrastructure development as highlighted in the budget by Sky One G. Learn about the positive impact on the economy and employment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&quot;The Budget is a Promising Step Towards Job Creation and Infrastructure Development,&quot; Says Sky One Group Chairman Jaideep Mirchandani - Matribhumi Samachar English\" \/>\n<meta property=\"og:description\" content=\"Read about the promising step towards job creation and infrastructure development as highlighted in the budget by Sky One G. Learn about the positive impact on the economy and employment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/\" \/>\n<meta property=\"og:site_name\" content=\"Matribhumi Samachar English\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-29T12:59:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-29T14:42:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/matribhumisamachar.com\/en\/wp-content\/uploads\/2024\/07\/29009_SKYONE-IMAGE-J92iID.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"335\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saransh Kanaujia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saransh Kanaujia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/\",\"url\":\"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/\",\"name\":\"\\\"The Budget is a Promising Step Towards Job Creation and Infrastructure Development,\\\" Says Sky One Group Chairman Jaideep Mirchandani - Matribhumi Samachar English\",\"isPartOf\":{\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#website\"},\"datePublished\":\"2024-07-29T12:59:27+00:00\",\"dateModified\":\"2024-07-29T14:42:45+00:00\",\"author\":{\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/0a61403f4baf9627e92218b53a1e65f1\"},\"description\":\"Read about the promising step towards job creation and infrastructure development as highlighted in the budget by Sky One G. Learn about the positive impact on the economy and employment.\",\"breadcrumb\":{\"@id\":\"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/matribhumisamachar.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"&#8220;The Budget is a Promising Step Towards Job Creation and Infrastructure Development,&#8221; Says Sky One Group Chairman Jaideep Mirchandani\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#website\",\"url\":\"https:\/\/matribhumisamachar.com\/en\/\",\"name\":\"Matribhumi Samachar English\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/matribhumisamachar.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/0a61403f4baf9627e92218b53a1e65f1\",\"name\":\"Saransh Kanaujia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/45a8b03a1b1bb8255014f5e62f9cfea0eb8a9f7a6a604f9879038df08da23cea?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/45a8b03a1b1bb8255014f5e62f9cfea0eb8a9f7a6a604f9879038df08da23cea?s=96&d=mm&r=g\",\"caption\":\"Saransh Kanaujia\"},\"description\":\"Saransh Kanaujia is currently editor of Matribhumi Samachar Group. He earlier worked with Hindusthan Samachar News Agency. He is also associated with many organizations.\",\"sameAs\":[\"https:\/\/matribhumisamachar.com\/en\"],\"url\":\"https:\/\/matribhumisamachar.com\/en\/author\/matribhumisamachar\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\"The Budget is a Promising Step Towards Job Creation and Infrastructure Development,\" Says Sky One Group Chairman Jaideep Mirchandani - Matribhumi Samachar English","description":"Read about the promising step towards job creation and infrastructure development as highlighted in the budget by Sky One G. Learn about the positive impact on the economy and employment.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/","og_locale":"en_US","og_type":"article","og_title":"\"The Budget is a Promising Step Towards Job Creation and Infrastructure Development,\" Says Sky One Group Chairman Jaideep Mirchandani - Matribhumi Samachar English","og_description":"Read about the promising step towards job creation and infrastructure development as highlighted in the budget by Sky One G. Learn about the positive impact on the economy and employment.","og_url":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/","og_site_name":"Matribhumi Samachar English","article_published_time":"2024-07-29T12:59:27+00:00","article_modified_time":"2024-07-29T14:42:45+00:00","og_image":[{"width":335,"height":500,"url":"https:\/\/matribhumisamachar.com\/en\/wp-content\/uploads\/2024\/07\/29009_SKYONE-IMAGE-J92iID.jpeg","type":"image\/jpeg"}],"author":"Saransh Kanaujia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Saransh Kanaujia","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/","url":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/","name":"\"The Budget is a Promising Step Towards Job Creation and Infrastructure Development,\" Says Sky One Group Chairman Jaideep Mirchandani - Matribhumi Samachar English","isPartOf":{"@id":"https:\/\/matribhumisamachar.com\/en\/#website"},"datePublished":"2024-07-29T12:59:27+00:00","dateModified":"2024-07-29T14:42:45+00:00","author":{"@id":"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/0a61403f4baf9627e92218b53a1e65f1"},"description":"Read about the promising step towards job creation and infrastructure development as highlighted in the budget by Sky One G. Learn about the positive impact on the economy and employment.","breadcrumb":{"@id":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/matribhumisamachar.com\/en\/2024\/07\/29\/the-budget-is-a-promising-step-towards-job-creation-and-infrastructure-development-says-sky-one-group-chairman-jaideep-mirchandani\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/matribhumisamachar.com\/en\/"},{"@type":"ListItem","position":2,"name":"&#8220;The Budget is a Promising Step Towards Job Creation and Infrastructure Development,&#8221; Says Sky One Group Chairman Jaideep Mirchandani"}]},{"@type":"WebSite","@id":"https:\/\/matribhumisamachar.com\/en\/#website","url":"https:\/\/matribhumisamachar.com\/en\/","name":"Matribhumi Samachar English","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/matribhumisamachar.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/0a61403f4baf9627e92218b53a1e65f1","name":"Saransh Kanaujia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/matribhumisamachar.com\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45a8b03a1b1bb8255014f5e62f9cfea0eb8a9f7a6a604f9879038df08da23cea?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45a8b03a1b1bb8255014f5e62f9cfea0eb8a9f7a6a604f9879038df08da23cea?s=96&d=mm&r=g","caption":"Saransh Kanaujia"},"description":"Saransh Kanaujia is currently editor of Matribhumi Samachar Group. He earlier worked with Hindusthan Samachar News Agency. He is also associated with many organizations.","sameAs":["https:\/\/matribhumisamachar.com\/en"],"url":"https:\/\/matribhumisamachar.com\/en\/author\/matribhumisamachar\/"}]}},"_links":{"self":[{"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/posts\/11818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/comments?post=11818"}],"version-history":[{"count":1,"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/posts\/11818\/revisions"}],"predecessor-version":[{"id":11840,"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/posts\/11818\/revisions\/11840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/media\/11819"}],"wp:attachment":[{"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/media?parent=11818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/categories?post=11818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/matribhumisamachar.com\/en\/wp-json\/wp\/v2\/tags?post=11818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}