Declared good status for ATF hinted at
By ENS Economic Bureau - NEW DELHI
22nd September 2012 10:02 AM
Civil Aviation Minister Ajit Singh on Friday said the state-run carrier Air India will not be looking at foreign direct investment as the government will infuse `30,000 crore in equity in a staggered manner for the loss-making carrier.
The government last week, while rolling out the slew of reforms, allowed foreign carries to pick up up to 49 per cent stake in domestic carriers.
Earlier those foreign companies associated with the airline business were not allowed to pick up stake in Indian domestic carriers.
Singh made these observations while inaugurating the Assocham’s 5th International Conference of Indian Civil Aviation here on Friday.
Singh said the government is working towards granting Aviation Turbine Fuel (ATF) ‘declared good’ status as it would then attract an uniform 4 per cent duty by way of state levies.
At present, ATF attracts anywhere between 4 per cent and 30 per cent taxes depending on the states.
Singh also said that restructuring of Airports Authority of India into ANS & Civil Wing will make it more effective, efficient and professional body and also skill augmentation in civil aviation sector through a vibrant, world class aviation education and training.
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