By Aftab Ahmed and Aditi Shah
By Aftab Ahmed and Aditi Shah
NEW DELHI, March 18 (Reuters) – India is planning a rescue package deal value as a lot as $1.6 billion for the aviation sector, which has been battered after the coronavirus outbreak compelled nations to shut borders and introduced air journey to a near-halt, two authorities sources instructed Reuters.
The Finance Ministry is contemplating a proposal that features non permanent suspension of most taxes levied on the sector, together with a deferment of aviation gas tax, stated the sources, who’ve direct data of the matter.
The rescue package deal, proposed by India’s civil aviation ministry, is more likely to be value as much as 100-120 billion rupees ($1.3-$1.6 billion), the 2 sources stated.
“Taxes might be deferred until the coronavirus unfold is contained and the aviation sector can come again to its toes,” one of many sources stated, including that the businesses might be permitted to pay the taxes interest-free within the subsequent tax cycle.
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