Feb 1, 2018

India to spend $94 billion on infrastructure, targeting airports

India Airport

Image: Hindustan Times / Getty Images

India's Finance Minister Arun Jaitley revealed plans to increase airport capacity fivefold as part of a 20% hike in infrastructure spending, bringing the expected total to 6 trillion rupees ($94 billion) for the year starting April 1, reports Bloomberg.

Why it matters: In addition to improving major metropolitan airports, the program will work to connect 56 unserved airports and 31 helipads, allowing low-income Indians to fly for the first time. Just 80 of the country's 486 existing airports are in regular commercial use.

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