India mulls up to US$1.6b rescue plan for aviation sector after coronavirus-sources
India is planning a rescue package worth as much as US$1.6b for the aviation sector, which has been battered after the coronavirus outbreak forced countries to close borders and brought air travel to a near-halt, govt sources told Reuters. The Finance Ministry is considering a proposal that includes temporary suspension of most taxes levied on the sector, including a deferment of aviation fuel tax, said the sources, who have direct knowledge of the matter. The rescue package, proposed by India's civil aviation ministry, is likely to be worth up to U$1.3b-$1.6b), the sources said. "Taxes could be deferred till the coronavirus spread is contained and the aviation sector can come back to its feet," one of the sources said. <br/>
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India mulls up to US$1.6b rescue plan for aviation sector after coronavirus-sources
India is planning a rescue package worth as much as US$1.6b for the aviation sector, which has been battered after the coronavirus outbreak forced countries to close borders and brought air travel to a near-halt, govt sources told Reuters. The Finance Ministry is considering a proposal that includes temporary suspension of most taxes levied on the sector, including a deferment of aviation fuel tax, said the sources, who have direct knowledge of the matter. The rescue package, proposed by India's civil aviation ministry, is likely to be worth up to U$1.3b-$1.6b), the sources said. "Taxes could be deferred till the coronavirus spread is contained and the aviation sector can come back to its feet," one of the sources said. <br/>
