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.
