Budget 2019: Tax reforms and sops must for plane leasing, say analysts

At present, a draft bill has been moved to give primacy to aircraft repossession rules over all other existing laws

The government will need to amend regulations, waive duties and alter double tax avoidance treaties with other countries to make aircraft leasing business in India a reality, aviation sector experts have said.
 
In her maiden Budget on Friday, Finance Minister Nirmala Sitharaman said the government will create a regulatory framework to make India a hub for aircraft leasing and maintenance units for planes.
 
At present, Ireland serves as a base for top aircraft lessors because of its favourable tax laws. Last year, the Civil Aviation Ministry set up a working group to formulate policies to encourage domestic aircraft