"Major boost for Bihar's aviation sector": Sanjay Jha praises CM Nitish after cabinet reduced VAT on Aviation Turbine Fuel
Patna (Bihar) [India], June 3 (ANI): Janata Dal (United) MP Sanjay Kumar Jha, on Tuesday, praised Bihar Chief Minister Nitish Kumar after state cabinet reduced Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) from 29 per cent to just 4 per cent.
In a post on X, Jha termed it a major boost for Bihar's aviation sector.
'The Bihar Cabinet has taken a landmark step by reducing VAT on Aviation Turbine Fuel (ATF) from 29% to just 4%. For flights under the Regional Connectivity Scheme (RCS), the VAT rate remains unchanged at 1%. Heartfelt gratitude to CM Nitishumar Ji for this progressive decision, one that will encourage more airlines to operate in the state and make air travel more accessible and affordable,' Sanjay Jha said.
'This reform is expected to significantly boost the number of flights from Patna, Darbhanga, and Gayaji, enhancing Bihar's air connectivity and opening new avenues for tourism, trade, and growth,' the JD(U) MP said.
Bihar Chief Minister Nitish Kumar chaired a high-level cabinet meeting on Tuesday and approved 47 key proposals, including large-scale infrastructure projects, new government job openings, and significant policy decisions.
The Bihar Cabinet approved the creation of 4,858 new posts across various government departments to improve administrative efficiency and public service delivery.
Among the major infrastructure decisions, a Rs 1,320 crore plan was approved for setting up a sewerage network project in Sasaram, Aurangabad, and Siwan.
In addition, a Rs 328 crore water supply scheme received clearance for Ara, Siwan, and Sasaram cities, aiming to boost urban utility services.
The cabinet also approved a new Bridge Maintenance Policy, which would ensure regular inspection, safety checks, and timely repairs of bridges across the state.
In a move expected to improve air connectivity, the Value-Added Tax (VAT) on Aviation Turbine Fuel (ATF) in Bihar was reduced from 29 per cent to 4 per cent.
A proposal to build a dry dock in Dujra, Patna, was also approved. The facility will be used to repair aircraft, making it the first such unit in the region.
In a significant step towards women's empowerment, the cabinet decided that 'Jeevika Didis' (members of the state's women's self-help groups) would prepare clothes for children at Anganwadi centres.
The area of Phulwari Sharif, Danapur, and Khagol near the capital of Patna will be expanded, and many villages will become part of these cities. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
20 minutes ago
- Time of India
Nine new DMDs at SBI, 28 CGMs promoted in annual exercise
State Bank of India (SBI), the country's biggest government asset by market value, has promoted nine chief general managers (CGMs) as deputy managing directors (DMDs) in an annual exercise, people familiar with the information said. As many as 28 people have been elevated to the CGM level, similar to the 27 promoted last year, Four out of nine DMDs have already been posted to their respective positions, while five others are waiting for the final order of the department where they will take charge. SBI has 24 DMDs, each handling remits ranging from corporate banking, markets and treasury, recovery, retail, compliance, finance, operations, etc. The names of the new DMDs have already been updated at the bank's website. Rajeev Kumar, who was CGM at the bank's international banking group (IBG) in SBI's Mumbai headquarters, has already taken charge as DMD internal audit at the bank's Hyderabad office. SBI Card CEO, Salila Pande, has also been promoted as DMD and will continue with her current responsibilities she assumed in April. Ramesh Srinivas Rao has taken charge as DMD commercial clients group I (CCG I) from Gulshan Malik, who retired on May 31. Satyendra Kumar Singh has taken charge of CCG II, which was headed by Amitava Chatterjee, who took over as J&K Bank CEO at the end of December 2024. Both CCG I and II services large and medium sized companies (except conglomerates), out of the bank's head office in Mumbai. Rajesh Kumar, who was heading the bank's Hyderabad circle, will take over as DMD, agriculture and SME in the bank's corporate headquarters in Mumbai from Surender Rana, who retires in July. Other CGMs promoted to DMD position are Arvind Kumar Singh, Chander Shekhar Sharma, Parminder Singh and Anindya Sunder Paul. They await portfolios and will take over based on retirements or transfers. The DMDs typically report to managing directors (MDs). SBI has four MDs, each handling corporate banking and subsidiaries, retail and operations, risk, compliance and stressed assets recovery and international banking, markets and technology. The MD portfolios are distributed according to the discretion of the SBI chairman. SBI is India's largest lender with Rs 66.79 lakh crore in total assets, much higher than Rs 39.10 lakh crore of total assets of HDFC Bank , its nearest rival, as of March 2025. With more than 22,500 branches and 63,580 ATMs across India, it has the widest network in the country. Economic Times WhatsApp channel )
Time of India
21 minutes ago
- Time of India
Uttarakhand CM Dhami plants Sita Ashoka sapling under 'Ek Ped Maa Ke Naam' campaign at his CMO residence
Uttarakhand CM Dhami plants Sita Ashoka sapling under 'Ek Ped Maa Ke Naam' campaign at his CMO residence (ANI) DEHRADUN: Uttarakhand Chief Minister Pushkar Singh Dhami on Thursday planted a Sita Ashoka sapling at the Chief Minister's residence on the occasion of World Environment Day as part of the "Ek Ped Maa Ke Naam" campaign, according to the release statement. On this occasion, the chief minister called upon the state's people to participate in this holy work and serve nature while respecting their mother. This campaign is dedicated to maternal respect and environmental protection, in which every person is encouraged to plant a tree in their mother's name. Forest and environment minister Subodh Uniyal and chief secretary Anand Bardhan also participated in the event by planting trees. Earlier today, Dhami greeted people on World Environment Day and urged them to participate in the 'Ek Ped Maa ke Naam' (One tree in the name of mother) by planting at least one tree and protecting the environment. " "Conservation of nature and environment is both our cultural heritage and responsibility. Under the leadership and guidance of the respected Prime Minister Narendra Modi ji, the Ek Ped Maa Ke Naam campaign has been started to promote environmental conservation," Dhami said in a post on X. "Let us all promote this campaign and plant a tree in the name of Mother and ensure our participation in environmental protection," his post added. Prime Minister Narendra Modi launched Ek Ped Maa ke naam, an initiative that combines environmental conservation with a tribute to mothers, on June 5, 2024, exactly one year ago. According to the ministry of environment, Forest and Climate Change, at least 80 crore saplings were planted between June and September, through collaborative efforts from government agencies, local communities, and various stakeholders. The Prime Minister also greeted people today, urging them to deepen their efforts to protect the planet and complimenting people working at the grassroots level for environmental conservation.
Time of India
25 minutes ago
- Time of India
Lower wage growth impacting consumption; tax cuts and rate cuts tools to spur growth: Report
Weakening wage and job growth cycle is impacting consumption sentiment , and tax cuts and rate cuts will help accelerate momentum, according to a report by ICICI Bank Global Markets. The report highlights that wage growth for listed Indian companies nearly halved in the financial year (FY) 2025, slowing to 7.5 per cent from an average of 15 per cent year-on-year (YoY) between FY22 and FY24, impacting consumption. The deceleration in wage growth can be attributed to the tepid demand and global economic uncertainty. The report adds that the slowdown, coupled with high inflation and elevated interest rates, has eroded consumers' discretionary income, particularly in urban areas. Spending across sectors has dampened. "Lower interest rates should lead to further recovery in consumption as repo-linked loans get repriced lower and reduce the interest outgo for consumers," according to ICICI Bank Global Markets report . "We believe further monetary support is required to spur consumption when inflation is easing," it said. Backing its assertion, the report added that Fast-Moving Consumer Goods (FMCG) sales in urban centres are trailing rural markets. In contrast, passenger vehicle sales growth has sharply decelerated to 4.5 per cent in FY25 from 8.8 per cent the previous year. On the job growth front, the report added that once a strong hiring engine, the IT sector continues to grapple with demand challenges from tech disruptions, monetary tightening, and trade volatility. Net hiring peaked at 293,000 in FY22 and saw a net contraction of 70,000 by FY24. The Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, according to the Ministry of Statistics and Programme Implementation's official data. While the economic growth was 7.4 per cent in the January-March quarter (Q4) of FY25. This was a sharp rise from the 6.2 per cent recorded in the previous quarter. Given the underlying weakness in urban demand , the government announced an income tax relief of Rs 1 trillion in the Union Budget 2025-26. The other factors favouring a consumption recovery are lower food inflation as well as the recent uptick seen in GST collections. In the last two months we have seen a visible acceleration in GST collections, with gross GST revenues increasing by 16.4 per cent YoY in May and 12.6 per cent YoY in April, respectively.
