logo
Navi Mumbai Airport Passengers To Pay Up To Rs 1,225 As User Fee

Navi Mumbai Airport Passengers To Pay Up To Rs 1,225 As User Fee

NDTV24-06-2025
Mumbai:
Regulator AERA has allowed levying of user development fee of up to Rs 1,225 at the upcoming Navi Mumbai airport on an ad-hoc basis.
The airport is being developed by the Navi Mumbai International Airport Ltd (NMIAL).
Passengers flying out from the airport, which is to be operational later this year, will have to shell out Rs 620 for domestic flights and Rs 1,225 for international flights as the User Development Fee (UDF).
For disembarking passengers, the UDF will be Rs 270 and Rs 525 for domestic and overseas flights, according to AERA's 42-page order.
The UDF charges have been approved on an ad-hoc basis for the 2025-26 financial year.
The Airports Economic Regulatory Authority (AERA) said it has been decided to allow levying ad-hoc UDF as an interim measure till March 31, 2026, or till final determination of regular tariff, whichever is earlier.
"The revenue to be collected by NMIAL on an ad-hoc basis in the interim period shall be accounted for by the authority during the regular tariff determination exercise of NMIA," the order said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ARC Insulation & Insulators IPO opens for subscription today; GMP at 17%
ARC Insulation & Insulators IPO opens for subscription today; GMP at 17%

Economic Times

time14 minutes ago

  • Economic Times

ARC Insulation & Insulators IPO opens for subscription today; GMP at 17%

ARC Insulation and Insulators launched its IPO on Thursday, aiming to raise Rs 41.19 crore through a fresh issue and offer for sale. ARC Insulation IPO aims to raise Rs 41.19 crore. It includes a fresh issue and an offer for sale. The IPO closes on Monday. Grey market premium suggests potential listing gains. The company specializes in glass fiber reinforced polymer products. Revenue and profit have shown strong growth. Tired of too many ads? Remove Ads About the company Tired of too many ads? Remove Ads The initial public offering (IPO) of ARC Insulation and Insulators will open for subscription on Thursday. The Rs 41.19 crore SME issue, comprising a fresh issue of Rs 38.06 crore and an offer for sale of Rs 3.13 crore, will close on IPO is commanding a grey market premium (GMP) of 17%, suggesting a listing gain of around Rs 20 per share over the upper price band of Rs price band has been fixed at Rs 119–125 per share, with investors able to bid for a minimum of 2,000 shares, requiring a minimum investment of Rs 2.5 lakh. Gretex Corporate Services is the book-running lead manager, while Maashitla Securities is the in 2008, ARC Insulation specializes in glass fiber reinforced polymer (GFRP) products used in construction, chemicals, power, marine, and mining company offers rebars, gratings, tubes, fencing, and trench covers known for corrosion resistance and durability. Its unit in West Bengal is ISO 2015 certified, and the firm has also supplied GFRP solutions for marine and chemical processing company's financials show strong growth. Revenue rose 15% to Rs 33.15 crore in FY25, while profit after tax jumped 40% to Rs 8.57 company's shares are set to list on NSE SME with a tentative listing date of August 29.

Punjab to save Rs 50 crore annually as consortium of banks reduce additional 0.05% interest on food credit
Punjab to save Rs 50 crore annually as consortium of banks reduce additional 0.05% interest on food credit

Indian Express

time15 minutes ago

  • Indian Express

Punjab to save Rs 50 crore annually as consortium of banks reduce additional 0.05% interest on food credit

Punjab government will save Rs 50 crore annually as the consortium of lender banks, led by State Bank of India (SBI), has agreed to reduce 0.05 per cent additional rate of interest on food credit, winning five-month-long battle against 'unjust disparity', with the banks levying an interest rate of 8.37 per cent on the Centre, but an 8.97 per cent on the state. Punjab was eyeing a waiver on the entire additional interest of 0.60 per cent, but the five-month-long battle yielded the state a 0.05 per cent rebate, saving Rs 50 crore annually. 'It may not sound like a huge amount, but it is like winning a war against injustice. We will save Rs 50 crore. We will keep fighting, and take the matter with the Centre too,' a government officer told The Indian Express. According to officials, during the last fiscal year, ending in March 2025, the Punjab government had a CCL of about Rs 79,000 crore and paid an interest of Rs 6,000 crore. After the procurement, the FCI paid back only Rs 5,400 crore of the Rs 6,000 crore interest, thus leaving the state government to pay an additional Rs 600 crore to the banks. Similarly, in the 2023-24 fiscal, the government paid an interest of Rs 5,500 crore, while it got only Rs 5,000 crore in the recoup, they said. Neighbouring Haryana pays the MSP to the farmers from its consolidated fund, so it does not have to pay interest. 'Punjab and Madhya Pradesh borrow CCL from the banks and have to pay the interest. Haryana can do it as it procures only 100 lakh tons of foodgrains, while Punjab procures 250 lakh tons of rice and wheat every year. Even Madhya Pradesh is contributing more wheat to the central pool than Haryana,' authorities in Punjab claim. Thus, the Punjab government contended that it has to pay an interest of 8.97 per cent to the lead banks, which offer food credit loans to the Centre at an interest of only 8.37 per cent. Citing Article 293 of the Constitution, which deals with the borrowing powers of the States, Punjab stated that it should also get the same rate of interest as the Centre, official sources said. The consortium of banks, however, argued that a state guarantee cannot be compared with the Union guarantee, it is learnt. With Punjab government officials holding five meetings in five months with the consortium of banks, the SBI has now written to the state that it has agreed to reduce the interest rate by 0.05 per cent. Punjab takes an advance to procure wheat and paddy twice a year. While the advance for wheat is about Rs 35,000 crore, it is more in the case of paddy at over Rs 45,000 crore. The advance is credited into the state's account by the banks before the procurement officially starts. At the time of recoup by the Food Corporation of India (FCI), the state only got the actual amount and had to pay Rs 500 crore extra to the banks. From now on, it will pay only Rs 450 crore. 'The Centre should be paying this interest also, as we procure grain for the central pool,' the officer added.

‘Misuse of muafi land': ED searches Wahid Sandhar Sugar Mill, Gold Gym, linked premises in Phagwara
‘Misuse of muafi land': ED searches Wahid Sandhar Sugar Mill, Gold Gym, linked premises in Phagwara

Indian Express

time15 minutes ago

  • Indian Express

‘Misuse of muafi land': ED searches Wahid Sandhar Sugar Mill, Gold Gym, linked premises in Phagwara

The Enforcement Directorate (ED) on Wednesday carried out search operations at eight locations across Punjab and Chandigarh in connection with their investigation into money laundering involving Phagwara-based Wahid Sandhar Sugars Limited and related entities and persons, ED sources said. Sources said raids were conducted at Wahid Sandhar Sugar Mill, Gold Gym and several other premises in Phagwara linked to their owner Jarnail Singh Wahid. Sources said it was found during the probe that Wahid Sandhar Sugars Ltd had 'misused the muafi land initially allotted by Maharaja Jagatjit Singh of Kapurthala State in 1933. The said muafi land was intended for running a sugar mill as per the conditions of allotment, and its mortgage or sale was strictly prohibited.' Wahid Sandhar Sugars Ltd had acquired the rights to operate the sugar mill on the muafi land in 2000. However, the company allegedly breached the conditions by mortgaging and selling the land, said ED sources. 'By engaging in such activities, the firm caused losses to the state government while wrongfully gaining benefits for themselves,' ED officials said, adding that 'the proceeds of crime generated out of these alleged activities are under investigation, with the estimated amount pegged at approximately Rs 95 crore.' For years, Wahid and his sugar mill have faced allegations of failing to pay farmers' dues amounting to over Rs 40 crore, along with charges of misusing government land. Several ED teams, comprising around four dozen officials, launched simultaneous searches at different locations, including residential and commercial properties associated with Wahid, they said. According to ED sources, based on an FIR lodged by the Punjab Vigilance Bureau, the investigation into the money laundering charge was initiated against the firm. On Wednesday, officials examined documents, electronic devices and records related to financial transactions, sources said The action is also linked to complaints by farmers, who have long protested against the non-payment of their dues, they said, adding that investigators are now probing whether the withheld funds were diverted for illegal transactions or money laundering.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store