印度航空業有翅膀，但航空公司飛不高

印度航空業有翅膀，但航空公司飛不高。政府需要採取措施應對該行業面臨的挑戰。

India's aviation sector has wings, but airlines can't fly high

印度航空業有翅膀，但航空公司飛不高

Naveen Wadhwa

納文·瓦德瓦

Vice-President, Taxmann

副總裁，稅務員

Budget with ET

ET 預算

India's aviation sector has seen a remarkable resurgence in recent years, thanks to the government's focus on infrastructure development and the increasing disposable income of the middle class. However, despite the growth, the sector is still grappling with a number of challenges, including high operating costs, intense competition, and a shortage of skilled manpower. These challenges have made it difficult for airlines to achieve sustained profitability and expand their operations.

近年來，由於政府對基礎設施發展的重視和中產階級可支配收入的增加，印度航空業出現了顯著的復甦。然而，儘管成長，該行業仍面臨許多挑戰，包括營運成本高、競爭激烈以及熟練勞動力短缺。這些挑戰使航空公司難以實現持續盈利並擴大業務。

The high operating costs of Indian airlines are primarily due to the high price of aviation turbine fuel (ATF). ATF accounts for nearly 40% of an airline's operating expenses, and India has one of the highest ATF prices in the world. This is due to a number of factors, including the high import duty on ATF and the government's decision to levy a Goods and Services Tax (GST) on the fuel.

印度航空公司營運成本高主要是因為航空渦輪燃油（ATF）價格高。 ATF 佔航空公司營運費用的近 40%，而印度是全球 ATF 價格最高的國家之一。這是由於多種因素造成的，包括 ATF 的高進口稅以及政府決定對燃料徵收商品和服務稅 (GST)。

Another major challenge faced by Indian airlines is the intense competition in the market. There are currently seven major airlines in India, and they are all vying for a share of the same market. This competition has led to a number of fare wars, which have further eroded the profitability of airlines.

印度航空公司面臨的另一個重大挑戰是市場競爭的激烈。印度目前有七家主要航空公司，它們都在爭奪同一市場的份額。這種競爭引發了多起票價戰，進一步侵蝕了航空公司的獲利能力。

Finally, Indian airlines are also facing a shortage of skilled manpower. This is due to a number of factors, including the rapid growth of the aviation sector and the lack of investment in training programs. The shortage of skilled manpower has made it difficult for airlines to maintain their aircraft and operate their flights efficiently.

最後，印度航空公司也面臨技術人才短缺的問題。這是由於多種因素造成的，包括航空業的快速成長和培訓計畫投資的缺乏。熟練勞動力的短缺使航空公司難以有效維護飛機和營運航班。

The challenges faced by Indian airlines are impacting the growth of the aviation sector. Despite the government's focus on the sector, the growth is not being realized to its full potential. In order to achieve sustained growth, the government needs to address the challenges faced by airlines and create an environment that is conducive to their expansion.

印度航空公司面臨的挑戰正在影響航空業的成長。儘管政府重點關注該行業，但其成長潛力並未充分發揮。為了實現持續成長，政府需要解決航空公司面臨的挑戰，創造有利於其擴張的環境。

Change the game of trade as Trump returns to US throne

川普重返美國寶座改變貿易遊戲

The return of Donald Trump to the US political scene is sure to have a major impact on the country's trade policy. Trump has been a vocal critic of the World Trade Organization (WTO), and he has threatened to withdraw the US from the organization. He has also imposed tariffs on a number of Chinese goods, and he has threatened to impose further tariffs if China does not agree to his demands.

唐納德·川普重返美國政壇肯定會對美國的貿易政策產生重大影響。川普一直直言不諱地批評世界貿易組織（WTO），並威脅要讓美國退出該組織。他也對一些中國商品徵收關稅，並威脅如果中國不同意他的要求，他將進一步徵收關稅。

Trump's trade policies are likely to have a significant impact on India. India is a major beneficiary of the WTO, and it would be harmed if the US were to withdraw from the organization. India is also a major exporter of goods to the US, and it would be affected by any tariffs that the US might impose.

川普的貿易政策可能會對印度產生重大影響。印度是世貿組織的主要受益者，如果美國退出世貿組織，印度將受到損害。印度也是美國的主要商品出口國，美國可能徵收的任何關稅都會影響印度。

The Trump administration has already taken a number of steps that could harm India's trade interests. In 2018, the administration announced that it would end preferential trade treatment for India under the Generalized System of Preferences (GSP) program. The administration has also imposed tariffs on Indian steel and aluminum exports.

川普政府已經採取了一系列可能損害印度貿易利益的措施。 2018年，美國政府宣布將終止普遍優惠制（GSP）計畫下對印度的優惠貿易待遇。美國政府也對印度鋼鐵和鋁出口徵收關稅。

These measures have already had a negative impact on India's trade with the US. In the first half of 2019, India's exports to the US fell by 10%. If the Trump administration continues to take steps that harm India's trade interests, it could lead to a further decline in exports and a slowdown in economic growth.

這些措施已經對印度與美國的貿易產生了負面影響。 2019年上半年，印度對美國出口下降10%。如果川普政府繼續採取損害印度貿易利益的舉措，可能會導致出口進一步下降、經濟成長放緩。

However, there are also some opportunities for India in the Trump era. The administration has shown an interest in negotiating bilateral trade deals with other countries, and India could be a potential partner for such a deal. The administration is also interested in reducing the US trade deficit with other countries, and India could benefit from any steps that the administration takes to achieve this goal.

不過，川普時代的印度也有一些機會。美國政府已表現出與其他國家談判雙邊貿易協議的興趣，印度可能成為此類協議的潛在合作夥伴。政府也對減少美國與其他國家的貿易逆差感興趣，而印度可以從政府為實現這一目標而採取的任何措施中受益。

Overall, the return of Donald Trump to the US political scene is likely to have both positive and negative consequences for India. The government will need to tread carefully and work to minimize the negative impact of Trump's policies while maximizing the opportunities that they might present.

總體而言，唐納德·川普重返美國政壇可能對印度產生積極和消極的影響。政府需要謹慎行事，努力最大限度地減少川普政策的負面影響，同時最大限度地利用這些政策可能帶來的機會。

Income tax payers' wishlist: More benefits in new tax regime, higher HRA & more

所得稅納稅人的願望清單：新稅制的更多福利、更高的 HRA 等

The new income tax regime was introduced in Budget 2020, and it offers lower tax rates than the old regime. However, the new regime also comes with fewer deductions and exemptions. As a result, many taxpayers are still opting for the old regime.

2020 年預算中引入了新的所得稅制度，其稅率低於舊制度。然而，新制度的扣除和豁免也減少了。結果，許多納稅人仍然選擇舊制度。

In order to make the new regime more attractive, the government should consider offering more benefits to taxpayers who choose it. For example, the government could increase the standard deduction or the HRA exemption in the new regime. The government could also offer a tax credit for taxpayers who invest in certain types of assets, such as real estate or equity-linked savings schemes (ELSS).

為了使新制度更具吸引力，政府應考慮為選擇它的納稅人提供更多福利。例如，政府可以在新制度中提高標準扣除額或 HRA 豁免。政府也可以為投資某些類型資產的納稅人提供稅收抵免，例如房地產或股票掛鉤儲蓄計劃（ELSS）。

Another way to make the new regime more attractive would be to reduce the tax rates further. The current tax rates in the new regime are still higher than the rates in many other countries. By reducing the tax rates, the government could make India a more attractive destination for investment and create more jobs.

使新制度更具吸引力的另一種方法是進一步降低稅率。新制度下的現行稅率仍然高於許多其他國家的稅率。透過降低稅率，政府可以使印度成為更具吸引力的投資目的地並創造更多就業機會。

Finally, the government

最後，政府