印度航空业有翅膀，但航空公司飞不高

印度航空业有翅膀，但航空公司飞不高。政府需要采取措施应对该行业面临的挑战。

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

印度航空业有翅膀，但航空公司飞不高

Naveen Wadhwa

纳文·瓦德瓦

Vice-President, Taxmann

副总裁，税务员

Budget with ET

ET 预算

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.

近年来，得益于政府对基础设施发展的重视和中产阶级可支配收入的增加，印度航空业出现了显着的复苏。然而，尽管增长，该行业仍面临许多挑战，包括运营成本高、竞争激烈以及熟练劳动力短缺。这些挑战使航空公司难以实现持续盈利并扩大业务。

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.

印度航空公司运营成本高主要是由于航空涡轮燃油（ATF）价格高。 ATF 占航空公司运营费用的近 40%，而印度是全球 ATF 价格最高的国家之一。这是由于多种因素造成的，包括 ATF 的高进口税以及政府决定对燃料征收商品和服务税 (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.

印度航空公司面临的另一个重大挑战是市场竞争的激烈。印度目前有七家主要航空公司，它们都在争夺同一市场的份额。这种竞争引发了多起票价战，进一步侵蚀了航空公司的盈利能力。

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.

最后，印度航空公司还面临技术人才短缺的问题。这是由于多种因素造成的，包括航空业的快速增长和培训项目投资的缺乏。熟练劳动力的短缺使航空公司难以有效维护飞机和运营航班。

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.

印度航空公司面临的挑战正在影响航空业的增长。尽管政府重点关注该行业，但其增长潜力并未得到充分发挥。为了实现持续增长，政府需要解决航空公司面临的挑战，创造有利于其扩张的环境。

Change the game of trade as Trump returns to US throne

特朗普重返美国宝座改变贸易游戏

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.

唐纳德·特朗普重返美国政坛肯定会对美国的贸易政策产生重大影响。特朗普一直直言不讳地批评世界贸易组织（WTO），并威胁要让美国退出该组织。他还对一些中国商品征收关税，并威胁如果中国不同意他的要求，他将进一步征收关税。

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.

特朗普的贸易政策可能会对印度产生重大影响。印度是世贸组织的主要受益者，如果美国退出世贸组织，印度将受到损害。印度也是美国的主要商品出口国，美国可能征收的任何关税都会影响印度。

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.

特朗普政府已经采取了一系列可能损害印度贸易利益的措施。 2018年，美国政府宣布将终止普遍优惠制（GSP）计划下对印度的优惠贸易待遇。美国政府还对印度钢铁和铝出口征收关税。

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.

这些措施已经对印度与美国的贸易产生了负面影响。 2019年上半年，印度对美国出口下降10%。如果特朗普政府继续采取损害印度贸易利益的举措，可能会导致出口进一步下降、经济增长放缓。

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.

不过，特朗普时代的印度也有一些机会。美国政府已表现出与其他国家谈判双边贸易协议的兴趣，印度可能成为此类协议的潜在合作伙伴。政府还对减少美国与其他国家的贸易逆差感兴趣，而印度可以从政府为实现这一目标而采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.

总体而言，唐纳德·特朗普重返美国政坛可能对印度产生积极和消极的影响。政府需要谨慎行事，努力最大限度地减少特朗普政策的负面影响，同时最大限度地利用这些政策可能带来的机会。

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

所得税纳税人的愿望清单：新税制的更多福利、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 年预算中引入了新的所得税制度，其税率低于旧制度。然而，新制度的扣除和豁免也减少了。结果，许多纳税人仍然选择旧制度。

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).

为了使新制度更具吸引力，政府应考虑为选择它的纳税人提供更多福利。例如，政府可以在新制度中提高标准扣除额或 HRA 豁免。政府还可以为投资某些类型资产的纳税人提供税收抵免，例如房地产或股票挂钩储蓄计划（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种方法是进一步降低税率。新制度下的现行税率仍然高于许多其他国家的税率。通过降低税率，政府可以使印度成为更具吸引力的投资目的地并创造更多就业机会。

Finally, the government

最后，政府