Skip to main content

AP Govt to launch own Airliner AMARAVATHI

The Andhra Pradesh government is planning to launch an airline, named after Amaravathi, once the state capital is developed. An official in the N Chandrababu Naidu-led government told PTI that the initiative is aimed at bringing global exposure to the upcoming city and also give a boost to the aviation sector in the state, adding that the airline is likely to be named after the state capital. "When Amaravathi is developed, the government may like to have its own international airport and airline depending upon the requirement at that particular time," he said. Currently, there are five commercial airports in Andhra Pradesh -- Visakhapatnam, Tirupati, Vijayawada, Rajamundry and Kadapa. Besides, six greenfield airports -- Bhogapuram, Dagadarthi, Orvakallu, Kuppam, Tadepallegudam and Ongole -- are being developed through public-private partnership (PPP). According to the official, even though the government has reduced VAT on jet fuel to 1 per cent, the losses incurred on account of this have been offset by the surge in air traffic in the state. "Prior to the implementation of the AP Aviation Policy 2015, there was a four-per cent VAT on aviation turbine fuel. Later, it was reduced to one per cent. Due to multiplication in the number of flights after the VAT reduction, the revenue loss to the state has been offset," he said. According to official data, air passenger traffic in the state is expected to grow to 3.6 million by the end of this fiscal, compared to 2.7 million passengers in the previous financial year. On the other hand, aircraft movement in all the airports in the state is expected to grow to 44,437 by the end of the fiscal.

Comments

Popular posts from this blog

DHIRUBHAI ENJOYED IN WEALTH CREATION

Leading businessman Anil Ambani today said more than creating wealth for himself, his father late Dhirubhai Ambani derived greater happiness from creating wealth for masses. "If you ever asked what part of being an entrepreneur he (late Ambani) enjoyed the most, he would say, 'I enjoy creating wealth. But what I enjoy even more is in creating wealth for the people of the country,'" the Anil Ambani Group chairman said while addressing an industry event here. It can be noted that the late Ambani, who had a humble beginning as a primary school teacher's son in Gujarat, is regarded as the father of capital markets and the equity cult, who made millions of investors millionaires with the IPO of Reliance Textile Industries in 1977. A person who had put in Rs 1,000 then in the IPO is worth over a million today, going by the price of RIL. Stating that the launch of Kothari Pioneer Mutual Fund, which was country's first private MF in 1993, was his (Dhirubhai's) id…

BEAR GRIP ON INDIAN STOCK MARKET

RECORDS 1 WEEKLY FALL IN 6 WEEKS
Gripped by fear psychosis due to geo-political aftershocks, key stock market indices were on a sticky wicket for the fifth day today as both Sensex and Nifty fell over 1 per cent to hit their one-month lows. The sharp plunge left investors poorer by over Rs 95,000 crore as the market cap stood at Rs 1,27,08,846 crore. Risk appetite took a hit after the Economic Survey said achieving the high end of the 6.75-7.5 per cent growth projected previously will be difficult. This is markets' first weekly fall in six.
Weakness in the rupee against the American currency and lacklustre global shares dragged down the indices, too. The BSE 30-share Sensex remained in the negative zone and settled down 317.74 points, or 1.01 per cent, at 31,213.59, its weakest closing since July 4. The index had tumbled 794.08 points in the last four sessions. The NSE Nifty after cracking the 9,700-mark to hit a low of 9,685.55, finally settled lower 109.45 points, or 1.11 per cent…

ASTRO TECHNICAL GUIDE FOR NIFTY

 for 11, April 2017
Opening Session  Subdued
Tithi ::Chaitra Bahula  Padyami
Nakshatra:Chitta
Persons born in Pushyami, Anuradha and Uttarabhadra constellations and those born in Libra and Aquarius are advised to be alert in their dealings.
Sensitive / Trend change Timings : 10.05 AM; 11.40 AM; 2.30 PM
Likely Intraday Trend...
On the basis of planetary position and aspects amongst planets, Market is expected to open  Subdued  and remain so  till about 11.20AM and could remain  better from  about 11.30 AM till about 1.30 pm and could remain subdued thereafter till  about end of the day.
Astro Technical Trading Strategy...
If Nifty Fut. Trades below  ATP/ Open level by about 9.30 AM , Short   Positions can be taken with suitable   SL, and such positions can be closed by about 11.30 AM. If Nifty Fut trades above  ATP by about 11.45 AM, Long Positions can be taken with suitable SL,and such positions can be closed by about 1.30 PM / 1.45 PM.
Technical Levels... Resistance : 9220, 9255 Sup…