Union Minister for Civil Aviation Jyotiraditya Scindia has said that seven states and Union Territories have slashed their Value Added Tax on Aviation Turbine Fuel (ATF) and he expected other states to follow the suit.
"7 States &UTs slashed their VAT on ATF (Aviation Turbine Fuel) & I'm expecting more states to follow suit. With the current tax structure on ATF...you can't have a robust civil aviation sector. I'm very clear on that," the union minister said on Thursday while inaugurating a curtain raiser event about Wings India, 2022 which is Asia's largest event on Civil Aviation.
Speaking on the occasion, Scindia said that the Indian Civil Aviation industry has witnessed robust growth over the years and contributes significantly to the economic development of the country. It is bringing people from across the world to discover the huge business and tourism opportunities in India, said the press release by the Ministry of Civil Aviation.
The Minister said that the Indian aviation industry has overcome many challenges to become one of the world's most lucrative aviation markets.
"India today handles the third-largest domestic traffic after the USA and China. We all know that in this densely globalized economy, air transport is a key element in the country's transport infrastructure and plays an important role in the Country's economic growth," he said.
The union minister lauded the support of the aviation industry in combating the impact of the COVID-19 pandemic said that its impact was great as it carried enzymes, PPE kits, masks, medicines, and cargoes which states and union territories required.
( With inputs from ANI )
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