The government on Wednesday approved a one-time budgetary support of Rs 10,000 crore for oil marketing companies to provide aviation turbine fuel (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 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.
