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The government also plans to invest Rs 40,000 crore (Rs 400 billion) for the modernisation of 25 airports.
The statutory regulator for the sector would be in place by next month and the Rs 40,000 crore required for the modernisation of airports would be met with public-private partnership, Planning Commission deputy chairman Montek Singh Ahluwalia said.
Fifty-five other airports had also been identified for modernisation, he told reporters after a meeting of Infrastructure Committee, headed by Prime Minister Manmohan Singh.