Indian aviation industry suffers over Rs 240 bn loss in 2020-22

06 Feb 2023 CW Team

India's aviation industry suffered a loss of over Rs 240 billion 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 124.79 billion and in FY 2021-22 it was Rs 116.58 billion.

In a reply at the Lok Sabha, the Ministry said the Centre has taken various initiatives to support the aviation industry. The reduction in 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 the GST 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 980 billion in the next five years for the 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 15 billion per borrower, whichever is lower, it said in its reply.

Also Read
Tata Power and AutoGrid collaborate to expand Mumbai's energy system
Power Min informs 39 hydro projects being implemented, 9 stalled

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..