NEW DELHI: The Federation of Indian Chambers of Commerce and Industry (FICCI) has recommended that the government waives off interests, penalties, delayed charges and accruals to airport operators, in order to rescue the country\u2019s crisis-hit aviation sector. Among other measures recommended by the chamber for the sector are easing of Goods and Services Tax (GST) and other tax structures, declaration of aviation as a \u201cCore Infrastructure Industry\u201d and bringing aviation fuel under the GST regime.<\/p>\n
FICCI said India\u2019s aviation industry is facing a crisis of unimaginable proportions due to the impact of the coronavirus pandemic. With prolonged travel restrictions in place around the world, one of the major challenges faced by the industry is a massive plunge in cash reserves as fleets remain grounded for almost a month now. Many airline companies are on the brink of bankruptcy, putting at risk around 30 lakh jobs. \u201cIt is likely that banks may be reluctant to extend credit to airlines in the current situation in the absence of guarantees.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: The Federation of Indian Chambers of Commerce and Industry (FICCI) has recommended that the government waives off interests, penalties, delayed charges and accruals to airport operators, in order to rescue the country\u2019s crisis-hit aviation sector. Among other measures recommended by the chamber for the sector are easing of Goods and Services Tax (GST) and other tax structures, declaration of aviation as a \u201cCore Infrastructure Industry\u201d and bringing aviation fuel under the GST regime. FICCI said India\u2019s aviation industry is facing a crisis of unimaginable proportions due to the impact of the coronavirus pandemic. With prolonged travel restrictions in […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[208,130,143],"tags":[],"class_list":["post-347561","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-new-indian-express","category-newspapers","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=347561"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/347561\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=347561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=347561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=347561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}