Aviation

Andhra to set up Regional Airport Development Fund

HYDERABAD

The Andhra Pradesh government plans to set up an Andhra Pradesh Regional Airport Development Fund (APRADF) with an initial amount of Rs 100 crore to provide financial support for regional airport development.

According to AP’s draft civil aviation policy, the APRADF will be used to provide financial support to develop and operate airports as well as commercial airline operations wherever deemed necessary. “The initial corpus will be Rs 100 crore,” the draft policy said, reports Economic Times.

The AP state government proposes to 100 per cent exemption on stamp duty for land purchased or leased to develop and upgrade airports, as well as 100 per cent reimbursement on electricity duty and property tax, the draft policy said.

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