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Should you spend a lot of money to fund air travel Jyotiraditya Scindia said this – Business News India

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Minister of Aviation Jyotiraditya Scindia on Thursday said aviation operations in India would be in jeopardy if the cost of domestic travel was not raised, as the price of fuel (fuel) had risen to $ 22 a barrel in the past eight months. $ 85 per barrel. He told the Times Now Summit newspaper that jet fuel (ATF) costs about 40 percent of the country’s total airline costs.

Air travel was at an all-time high on August 12 this year, with the Ministry of Aviation raising lower and higher limits on domestic prices. The ministry raised the minimum limit by 11.53% to Rs 2,900 from Rs 2,600 for the 40-minute flight and the maximum limit for flights by 12.82 percent to Rs 8,800.

Read more: India is at the forefront of producing cheap oil, somewhere between 2 to 40 paise was reduced, then Pakistan-Nepal became more expensive by 3 rupees.

Scindia said Thursday, “Look at what has happened to ATF prices. Oil prices have risen from $ 22 barrels to $ 84 in the last eight months. As a result, airline prices have quadrupled.” He asked, “The 11 percent tax and VAT (value added tax) between 1 percent and 30 percent is levied by governments. How can an airplane stay unless (ATF) is cheaper?

The reason why the airline has increased its price is that some relief should be given to airlines if they go up 400 percent of fuel prices. Scindia said the aviation ministry is trying to lower ATF prices by asking governments to reduce VAT. “Over the past four months, I have written to 25 prime ministers to explain how VAT hinders international connectivity.

“Over the past 40 days, Jammu and Kashmir, Andaman and Nicobar Islands, Ladakh, Uttarakhand, Himachal Pradesh and Haryana have reduced VAT on ATF from 25-28 percent to 1-2 percent. I salute the leadership of these countries.

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