FM Sitharaman announces launch of modified UDAN Scheme to 120 new destinations

Posted by admin_kas on 2025-02-01 12:48:11 |

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New Delhi, Febr 01: Finance Minister Nirmala Sitharaman on Saturday announced a Modified UDAN scheme aimed at enhancing regional connectivity by adding 120 new destinations and carrying 4 crore additional passengers over the next decade.

While presenting the Union Budget 2025-26, she said the scheme will focus on developing helipads and smaller airports in hilly, aspirational, and northeastern districts, ensuring improved accessibility in remote regions.

"Modified UDAN scheme will be launched to enhance regional connectivity to 120 new destinations and carry 4 crore additional passengers in the next 10 years," FM Sitharaman said.

She further announced raising FDI limits for insurance for insurance sector from 74 per cent to 100 per cent, though with certain restrictions.

"The FDI limit for the insurance sector will be raised from 74 to 100 per cent," she said.

She said the enhanced limit will be available for those companies which invest the entire premium in India.

"The current guardrails and conditionalities associated with foreign investment will be reviewed and simplified," she said.