{"id":15747,"date":"2024-07-24T11:46:01","date_gmt":"2024-07-24T08:46:01","guid":{"rendered":"https:\/\/aviation-news.info\/?p=15747"},"modified":"2024-07-24T11:46:01","modified_gmt":"2024-07-24T08:46:01","slug":"budget-2024-government-launches-schemes-to-boost-mro-facilities-for-aviation-shipping-sectors","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=15747","title":{"rendered":"Budget 2024: Government launches schemes to boost MRO facilities for Aviation &#038; shipping sectors"},"content":{"rendered":"<p>The government has announced new incentives in the Budget 2024 to strengthen maintenance, repair, and overhaul (MRO) operations across India\u2019s aviation and shipping sectors.<\/p>\n<h2 class=\"wp-block-heading\">Budget 20204 announcement for Aviation &amp; Shipping sectors<\/h2>\n<p>Finance Minister Nirmala Sitharaman mentioned in his\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/budget\/india-budget-2024-live-updates-fm-nirmala-sitharaman-budget-2024-announcements-3561931\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3563378\">Budget<\/a>\u00a0speech, \u201dTo promote domestic\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/business\/airlines-aviation\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3563378\">aviation<\/a>\u00a0and boat &amp; ship MRO, I propose to increase the period for the export of goods imported to one year from six months. Similarly, I put forward to extend the deadline for the re-import of goods for repairs which comes under warrant from three to five years.\u201d<\/p>\n<p>The government has earlier executed a uniform Integrated Goods and Services\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/money\/income-tax\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3563378\">Tax<\/a>\u00a0(IGST) rate of 5% on every aircraft and the parts of aircraft engines. Before this change, IGST rates levied on these items used to vary from 5% to 28%.<\/p>\n<p>The measures that are announced now are part of ongoing attempts to enhance MRO activities in the aviation sector as for now it has been outsourced internationally.\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/india-news\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3563378\">India<\/a>\u00a0is considered to be one of the world\u2019s largest-growing domestic aviation markets. On the contrary, the Civil Aviation Ministry budgetary allocation has been lessened to Rs 2357.14 crore for the current fiscal year. On the other hand, Rs 502 crore has been allocated for regional air connectivity for the same duration.<\/p>\n<p>source:<a href=\"https:\/\/www.financialexpress.com\">https:\/\/www.financialexpress.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government has announced new incentives in the Budget 2024 to strengthen maintenance, repair, and overhaul (MRO) operations across India\u2019s aviation and shipping sectors. Budget 20204 announcement for Aviation &amp; Shipping sectors Finance Minister Nirmala Sitharaman mentioned in his\u00a0Budget\u00a0speech, \u201dTo promote domestic\u00a0aviation\u00a0and boat &amp; ship MRO, I propose to increase the period for the export &hellip;<\/p>\n","protected":false},"author":1,"featured_media":15748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[96,102],"tags":[],"class_list":["post-15747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation-world","category-featured-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Budget 2024: Government launches schemes to boost MRO facilities for Aviation &amp; shipping sectors - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=15747\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2024: Government launches schemes to boost MRO facilities for Aviation &amp; shipping sectors\" \/>\n<meta property=\"og:description\" content=\"The government has announced new incentives in the Budget 2024 to strengthen maintenance, repair, and overhaul (MRO) operations across India\u2019s aviation and shipping sectors. Budget 20204 announcement for Aviation &amp; Shipping sectors Finance Minister Nirmala Sitharaman mentioned in his\u00a0Budget\u00a0speech, \u201dTo promote domestic\u00a0aviation\u00a0and boat &amp; ship MRO, I propose to increase the period for the export &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aviation-news.info\/?p=15747\" \/>\n<meta property=\"og:site_name\" content=\"aviation news\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=100088552298353\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-24T08:46:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aviation-news.info\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-29-155219.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1890\" \/>\n\t<meta property=\"og:image:height\" content=\"865\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"adminnews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@aviationne428\" \/>\n<meta name=\"twitter:site\" content=\"@aviationne428\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"adminnews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=15747#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=15747\"},\"author\":{\"name\":\"adminnews\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#\\\/schema\\\/person\\\/02e91cef3ca1560c153b683711401bd3\"},\"headline\":\"Budget 2024: Government launches schemes to boost MRO facilities for Aviation &#038; 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