Civil aviation ministry receives Rs 23.57 Bn in Budget 2024

25 Jul 2024 CW Team

According to documents from the Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday, the budgetary allocation for the civil aviation ministry for the current fiscal year ending next March has been reduced to Rs 23.57 billion. This marks a decrease from the revised budgetary allocation of Rs 2,922.12 crore for 2023-24. The regional air connectivity scheme will receive Rs 5.02 billion during the same period, down from Rs 8.5 billion in the revised budget for 2023-24.

The allocation includes funding for the revival of 22 airports, the commencement of 124 RCS routes, and Viability Gap Funding for North East Connectivity. Additionally, a new scheme has been introduced to enhance air connectivity and aviation infrastructure in the northeast region.

Furthermore, the Production Linked Incentive (PLI) scheme for drones and drone components will see an increased allocation of Rs 0.57 billion for this fiscal year.

An allocation of Rs 0.57 billion has been earmarked in the budget for the Hotel Corporation of India Ltd to fulfill its statutory and other obligations under the ministry.

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..