<P> India is the fourth - largest civil aviation market in the world recording an air traffic of 131 million passengers in 2016 . The market is estimated to have 800 aircraft by 2020 . In 2015, Boeing projected India's demand for aircraft to touch 1,740, valued at $240 billion, over the next 20 years . This would account for 4.3 per cent of global volumes . According to Airbus, India will be one of the top three aviation markets in the next 20 years . Airbus is expecting an annual growth rate of over 11 per cent for the domestic market over the next ten years, while the combined growth rate for domestic and international routes would be more than 10 per cent . </P> <P> Civil aviation in India traces its beginnings to 18 February 1911, with the first commercial flight from Allahabad to Naini . Henri Pequet, a French aviator, carried 6,500 pieces of mail on a Humber biplane . On 15 October 1932, J.R.D. Tata flew a consignment of mail from Karachi to Juhu Airport . His airline later became Air India . In March 1953, the Indian Parliament passed the Air Corporations Act . India's airline industry was nationalised and the eight domestic airlines operating independently at that time, Deccan Airways, Airways India, Bharat Airways, Himalayan Aviation, Kalinga Airlines, Indian National Airways, Air India and Air Services of India were merged into two government - owned entities . Indian Airlines focussed on domestic routes and Air India International on international services . The International Airports Authority of India (IAAI) was constituted in 1972 while the National Airports Authority was constituted in 1986 . The Bureau of Civil Aviation Security was established in 1987 following the crash of Air India Flight 182 . East - West Airlines was the first national - level private airline to operate in the country after the government de-regularised the civil aviation sector in 1991 . The government allowed private airlines to operate charter and non-scheduled services under the' Air Taxi' Scheme until 1994, when the Air Corporation Act was repealed and private airlines could now operate scheduled services . Private airlines including Jet Airways, Air Sahara, Modiluft, Damania Airways and NEPC Airlines commenced domestic operations during this period . </P> <P> The aviation industry experienced a rapid transformation following deregulation . Several low - cost carriers entered the Indian market in 2004--05 . Major new entrants included Air Deccan, Air Sahara, Kingfisher Airlines, SpiceJet, GoAir, Paramount Airways and IndiGo . Kingfisher Airlines became the first Indian air carrier on 15 June 2005 to order Airbus A380 aircraft worth US $3 billion . However, Indian aviation would struggle due to an economic slowdown and rising fuel and operation costs . This led to consolidation, buy outs and discontinuations . In 2007, Air Sahara and Air Deccan were acquired by Jet Airways and Kingfisher Airlines respectively . Paramount Airways ceased operations in 2010 and Kingfisher shut down in 2012 . Etihad Airways agreed to acquire a 24% stake in Jet Airways in 2013 . AirAsia India, a low - cost carrier operating as a joint venture between Air Asia and Tata Sons launched in 2014 . As of 2013--14, only IndiGo and GoAir were generating profits . </P> <P> The Indian money market is classified into the organised sector, comprising private, public and foreign - owned commercial banks and cooperative banks, together known as' scheduled banks'; and the unorganised sector, which includes individual or family - owned indigenous bankers or money lenders and non-banking financial companies . The unorganised sector and microcredit are preferred over traditional banks in rural and sub-urban areas, especially for non-productive purposes such as short - term loans for ceremonies . </P>

Which of the following sector contributes the highest share in the national income of india