The Union Budget for FY 2023-24 announced on February 1, 2023 shows a sharp decline in the overall funds allocated for the Aviation sector, as compared to the budget allocated in FY 2022-23. The Regional Connectivity Scheme, however, gets a much-needed boost with an allocation of INR 1,244,07,00,000 (Indian Rupees one thousand two hundred forty four crore seven lakh), being the only silver lining in the clouds. For civil aviation industry, the long-drawn battle against high cost of aviation turbine fuel (ATF), high rates of Excise Tax and GST, slow growth of the MRO and cargo handling operations, among other concerns, still continues
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