Wednesday, 6 June 2012

Ministry for easier currency norms for global transit passengers


New Delhi, June 6:
International air travellers transferring through Indian airports could soon be allowed to withdraw cash which they would be able to use in the airport terminal for food and beverages among others.
This is one of the suggestions put forward by the Ministry of Civil Aviation in a paper on ‘Developing aviation hubs in the country'. The suggestion has been made as the country looks to develop airports to attract more passengers thereby generating more income and employment from the sector.
It called for a change in the existing currency policy, which also restricts the amount of Indian currency domestic and international passengers can carry beyond the immigration point. The suggestions which have been sent to various stakeholders including airlines, airports and other Government Departments will have to be cleared by the Union Cabinet before it is implemented.
The Ministry said that the lack of such a policy was hurting the development of Indian airports as hubs for airlines.
The Ministry has pointed out that the current currency policy is favourable for arriving passengers who terminate their journey here but it is a major hindrance for passengers transferring from hub airports and not terminating journey at any international port of arrival in India.
The Ministry paper states that the ratio of transferring passengers at any Indian airport ranges between 2 per cent and 8 per cent of the total traffic and is miniscule in comparison to other developed mature overseas international hub airports, where it ranges between 35 per cent and 55 per cent.
“The time spent by the transferring passenger range from more than two hours and less than 24 hours, and these passengers are required to spend substantially on food and beverages and use other facilities in the transfer area, and spending in foreign currency is usually not feasible,” the paper states.
http://www.thehindubusinessline.com/todays-paper/tp-economy/article3498517.ece

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