Business News | Union Minister Scindia Thanks Maharashtra CM, Deputy for Reducing VAT on ATF

New Delhi [India], March 9 (ANI): Union Minister for Civil Aviation Jyotiraditya Scindia on Thursday thanked Maharashtra Chief Minister Eknath Shinde and Deputy CM Devendra Fadnavis for taking the 'progressive decision' to reduce value-added tax (VAT) on air turbine fuel from 25 per cent to 18 per cent.

The Union minister said, "In a scenario of high fuel prices, this step will prove to be a catalyst in our efforts to ramp up air connectivity."

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A tweet on the official handle of the Union aviation minister posted on Thursday read: "I thank Maharashtra CM @mieknathshinde Ji & Depy CM @Dev_Fadnavis Ji for taking the progressive decision to reduce VAT on Air Turbine Fuel from 25 per cent to 18 per cent. In a scenario of high fuel prices, this step will prove to be a catalyst in our efforts to ramp up air connectivity."

The post further read, "With this, Maharashtra joins the league of total 19 states/Union Territories that have rationalised VAT rates in the last 1.5 years. Alongside enhanced connectivity for Mumbai, Pune and Raigad, this will also make travel more affordable, and boost growth.Over the past many months, Scindia has been engaging with states and UTs for the reduction of VAT on jet fuel, which accounts for a major chunk of an airline's operational costs.Scindia said the Maharashtra government allocated over Rs 100 crore for the development of airports in Shirdi, Chhatrapati Sambhajinagar, Nagpur and Baramati." (ANI)

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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)