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CABINET APPROVES PROPOSAL FOR LEASING OUT THREE AIRPORTS

Focus: GS-III Indian Economy

Why in news?

The Union Cabinetchaired by the Prime Minister, Shri Narendra Modi has approved the proposal for leasing out three airports namely Jaipur, Guwahati and Thiruvananthapuram airports of Airports Authority of India (AAI) through Public Private Partnership (PPP).

Background and Details

  • These projects will bring efficiency in service delivery, expertise, enterprise and professionalism apart from harnessing the needed investments in the public sector.
  • Government had leased out the Airports Authority of India’s airports at Delhi and Mumbai on Public Private Partnership for Operation, Management and Development about a decade ago.
  • While these PPP experiments have helped create world class airports and helped in delivery of efficient and quality services to the airport passengers, it has also helped AAI in enhancing its revenues and focusing on developing airports and Air Navigation infrastructure in the rest of the country.
  • Therefore, Government decided to lease out more airports of AAI for Operation, Management and Development under PPP through Public Private Partnership Appraisal Committee (PPPAC). Government also constituted an Empowered Group of Secretaries (EGoS) to decide on any issue falling beyond the scope of PPPAC.
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September 2022
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