• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Indian Aviation Industry Suffers Over Rs 24,000 Cr Loss In 2020-22

OMMCOM NEWS by OMMCOM NEWS
February 2, 2023
in Business

New Delhi: India’s aviation industry suffered a loss of over Rs 24,000 crore in the last two financial years during 2020-22.

As per the Union Ministry of Civil Aviation, the industry in FY 2020-21 suffered a loss of Rs 12,479 crore and in FY 2021-22 it was Rs 11,658 crore.

In a reply at the Lok Sabha on Thursday, the Ministry said the Centre has taken various initiatives to support the aviation industry.

The reduction in Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) was taken up with state governments and union territories levying high VAT on ATF.

As a result, VAT on ATF has been reduced by 17 states and UTs.

The reply said that Goods and Services Tax (GST) on rate has been reduced from 18 per cent to 5 per cent for domestic Maintenance, Repair and Overhaul (MRO) services.

The Ministry further informed that the Airports Authority of India (AAI) and other airport developers have targeted a capital outlay of approximately Rs 98,000 crore in the next five years for expansion and modification of new and existing terminals as well as the strengthening of runways, among other activities.

The Centre has also approved the Emergency Credit Line Guarantee Scheme (ECLGS) to the aviation sector, according to the Ministry.

Based on the industry demand, the scope of ECLGS has been enhanced to provide credit support to these companies upto 100 per cent of their total credit outstanding (both fund based and non-fund based outstanding) as on reference dates, subject to a cap of Rs 1,500 crore per borrower, whichever is lower, it said in its reply.

 (IANS)

ShareTweetSendSharePinShareSend
Previous Post

Govt Report Reveals Australian Health System In Crisis

Next Post

Girl Student Found Hanging In Puri Hostel Room, Family Cries Foul

Related Posts

Business

Indian Bond Market Shines Amid Falling Inflation: Jefferies

May 31, 2025
Business

E-Commerce Giants Remove Walkie-Talkie Listings After Govt Cracks Down On Illegal Sales

May 31, 2025
Business

FIIs To Continue Their Investment In India Amid Robust GDP Growth: Analysts

May 31, 2025
Gautam Adani
Business

Gautam Adani Lauds First Batch Of Women NDA Cadets For Scripting History

May 31, 2025
Business

Providing Service To Taxpayers Is Duty Of Tax Officials: FM Sitharaman

May 31, 2025
Business

Indian Stock Markets Witness 2nd Consecutive Week Of Consolidation

May 31, 2025
Next Post

Girl Student Found Hanging In Puri Hostel Room, Family Cries Foul

Kiara-Sidharth Jaisalmer Wedding Details Shared By Paparazzo

Two Minor Girls Die After Falling Into Pit In Odisha's Malkangiri

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.