Govt Clears Rs 10,000 Cr for ATF Price Stabilization
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India''s government approves Rs 10,000 crore budgetary support for oil marketing companies to stabilize Aviation Turbine Fuel (ATF) prices for airlines amid West Asia conflict.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jun 3 (PTI) The government on Wednesday approved a one-time budgetary support of Rs 10,000 crore for oil marketing companies to provide ATF price stabilisation to Indian airlines for domestic and international operations amid challenges posed by the West Asia conflict.
Announcing the decision, I&B Minister Ashwini Vaishnaw said the budgetary support will help airlines in the backdrop of a rise in prices of aviation turbine fuel (ATF) due to the conflict and closure of airspace by Pakistan for Indian airlines.
The Rs 10,000 crore will be interest-free support to oil marketing companies (OMCs) for ATF price stabilisation.
Announcing the decision, I&B Minister Ashwini Vaishnaw said the budgetary support will help airlines in the backdrop of a rise in prices of aviation turbine fuel (ATF) due to the conflict and closure of airspace by Pakistan for Indian airlines.
The Rs 10,000 crore will be interest-free support to oil marketing companies (OMCs) for ATF price stabilisation.
