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New Delhi, The government on Tuesday increased the <keyword id="14716344" type="General" weightage="20" keywordseo="windfall-profit-tax" source="Orion">windfall profit tax</keyword> on <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword> produced in the country and reduced the levy on exports of diesel. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil was increased to Rs 9,800 per tonne from Rs 9,050 a tonne, according to an official notification. SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on <keyword id="19342328" type="General" weightage="20" keywordseo="jet-fuel-or-ATF" source="Orion">jet fuel or ATF</keyword> to nil from Rs 1, the notification said. SAED on export of petrol will continue to be zero. The new tax rates will come into effect from Wednesday. India first imposed <keyword id="2378386" type="General" weightage="20" keywordseo="windfall-profit" source="Orion">windfall profit</keyword> taxes on July 1 last year, joining a growing number of nations that tax supernormal profits of energy companies. At that time, export duties of Rs 6 per litre (USD 12 per barrel) each were levied on petrol and ATF and Rs 13 a litre (USD 26 a barrel) on diesel. A Rs 23,250 per tonne (USD 40 per barrel) windfall profit tax on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) was also levied. The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks. A windfall tax is levied on domestic crude oil if rates of the global benchmark rise above USD 75 per barrel. Export of diesel, ATF and petrol attract the levy if product cracks (or margins) rise above USD 20 per barrel. Product cracks or margins are the difference between crude oil (raw material) and finished petroleum products. International crude oil prices averaged USD 90.17 per barrel in October. The levy on domestic crude oil dropped to nil in the first half of April as international crude oil prices fell but was back in the second half in step with a rise in rates. Levy on diesel became nil in April but the levy was brought back in August. Levy on ATF became nil in March and was brought back in second half of August. The export tax on petrol was scrapped in the very first review. Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel (ATF). Reliance Industries Ltd, which operates the world's largest single-location oil refinery complex at Jamnagar in Gujarat, and Rosneft-backed Nayara Energy are primary exporters of fuel in the country.

Govt hikes windfall profit tax on crude oil, cuts levy on diesel exports

<keyword id="59783" type="General" weightage="20" keywordseo="jet-fuel" source="Orion">Jet fuel</keyword> (ATF) price was on Thursday reduced by 2.3 per cent, reflecting softening international oil prices but <keyword id="6367091" type="General" weightage="80" keywordseo="petrol" source="Orion">petrol</keyword> and diesel rates remained on freeze for a record eighth month in running. <keyword id="31907" type="General" weightage="20" keywordseo="aviation" source="Orion">Aviation</keyword> Turbine Fuel (ATF) price was cut by Rs 2,775 per kilolitre, or 2.3 per cent, to Rs 1,17,587.64 per kl in the national capital, according to a price notification of state-owned fuel retailers. The rate reduction, which will provide relief to airlines for whom fuel makes for almost 40 per cent of the operating cost, comes on the back of a Rs 4,842.37 per kl, or 4.19 per cent, reduction last month. ATF price is revised on the 1st of every month based on the average rate of international benchmark and foreign exchange rates. Petrol and diesel prices, however, continued to remain on freeze for a record eighth month in a row. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62. State-owned fuel retailers are supposed to revise petrol and diesel prices daily based on a 15-day rolling average of benchmark international <keyword id="61430" type="General" weightage="20" keywordseo="fuel-prices" source="Orion">fuel prices</keyword> but they haven't done that since April 6. Prices were last changed on May 22 when the government cut excise duty to give relief to consumers from a spike in retail rates that followed a surge in international oil prices. Also, after seven reductions, the price of commercial LPG, whose rate too is revised on the 1st of every month, remained unchanged on Thursday. A 19-kg commercial LPG cylinder, which is used by hotels, restaurants and other business establishments, continues to cost Rs 1,744 in the national capital. In seven cuts, rates had previously come down by Rs 610 per 19-kg cylinder. However, rate of LPG used in household kitchens remained unchanged at Rs 1,053 per 14.2-kg cylinder. Rates differ from state to state depending on the incidence of local taxes.

ATF price slashed by 2.3 pc to Rs 1.17 lakh per kilolitre

New Delhi, The government on Tuesday cut special additional excise duty (<keyword id="2978612" type="General" weightage="80" keywordseo="saed" source="Orion">SAED</keyword>) on <keyword id="163117" type="General" weightage="20" keywordseo="crude-petroleum" source="Orion">crude petroleum</keyword> to Rs 9,050/tonne with effect from October 18. In the last fortnightly review on September 29, <keyword id="1229080" type="General" weightage="20" keywordseo="windfall-tax" source="Orion">windfall tax</keyword> on domestically produced crude oil was set at Rs 12,100/tonne. Besides, the SAED or duty on export of diesel will be reduced to Rs 4/litre, from Rs 5 per litre currently. The duty on jet fuel or ATF will be reduced to Rs 1/litre from Rs 2.5/litre currently. SAED on petrol will continue at nil. India first imposed windfall profit taxes on July 1, 2022.

Govt cuts windfall tax on domestic crude, export of diesel, ATF

<keyword id="6354691" type="General" weightage="20" keywordseo="Air-travel" source="Orion">Air travel</keyword> is expected to get costlier as oil marketing companies on Wednesday raised the <keyword id="59621" type="General" weightage="20" keywordseo="aviation-turbine-fuel" source="Orion">aviation turbine fuel</keyword> (ATF) prices for the second time in February. In the national capital, the price of jet fuel was raised to Rs 90,519.79 per kilolitre from Rs 86,038.16 per kilolitre. In the other metro cities of Kolkata, Mumbai and Chennai, the price was increased to Rs 94,888.70, Rs 88,987.20 and Rs 93,371.18 per kilolitre, respectively. The hike is expected to impact aviation companies' finances that are under huge stress amid high debt. Fuel retailers revise <keyword id="487582" type="General" weightage="20" keywordseo="jet-fuel-prices" source="Orion">jet fuel prices</keyword> on a fortnightly basis. At present, fuel based expenses account for over 30 per cent of the overall operating cost of an airline. India, currently, has some of the world's highest rates of taxation on the ATF which massively drives up the <keyword id="549738" type="General" weightage="20" keywordseo="fuel-cost" source="Orion">fuel cost</keyword> component. The industry has been urging the Centre to include the fuel type in the ambit of GST, similar to the status given to '<keyword id="13191410" type="General" weightage="20" keywordseo="Bunker-Diesel" source="Orion">Bunker Diesel</keyword>' which is used in the shipping sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/crude-oil-price-hits-100-a-barrel-due-to-growing-tensions-between-russia-and-ukraine/articleshow/89631242.cms">Brent crude price hits $100 a barrel</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/russian-invasion-of-ukraine-can-happen-anytime-now-says-white-house/articleshow/89630812.cms">Russian invasion of Ukraine can happen anytime now, says White House</a>

Air travel to get costlier as jet fuel prices rise further

India's <keyword id="252144" type="General" weightage="20" keywordseo="fuel-demand" source="Orion">fuel demand</keyword> fell in the first half of March after posting record growth in the previous month, preliminary industry data showed on Thursday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter lull. March saw the seasonal slowdown kicking in with a rise in temperatures. <keyword id="3146552" type="General" weightage="20" keywordseo="petrol-sales" source="Orion">Petrol sales</keyword> decreased by 1.4 per cent to 1.22 million tonnes in the first half of March when compared with the same period of last year. Sales fell 0.5 per cent month-on-month, the data showed. Diesel, the most consumed fuel in the country, saw demand slip 10.2 per cent to 3.18 million tonnes from March 1 to 15 when compared with 3.54 million tonnes of sales in the same period a year back. Month-on-month the demand was down 4.6 per cent. During the first half of February, petrol consumption had jumped by almost 18 per cent year-on-year while <keyword id="998651" type="General" weightage="20" keywordseo="diesel-sales" source="Orion">diesel sales</keyword> were up nearly 25 per cent. The consumption of petrol in the first half of March was 16.4 per cent more than the Covid-marred first half of March 2021 and almost 23 per cent more than in the same period of 2020. Diesel consumption was up 11.5 per cent over the first half of March 2021 and 20.2 per cent higher than in 2020. While cold conditions slowed truck movements in January, the onset of spring revived demand in February. With the continued opening of the aviation sector, India's overall passenger traffic at airports inched closer to pre-Covid levels. Reflecting the trend, jet fuel (ATF) demand jumped 19.2 per cent to 2,94,900 tonnes during the first half of March when compared to the same period last year. It was 35.6 per cent higher than in March 2021 but 8.2 per cent lower than in March 2020. Month-on-month sales were almost flat. Sources said while domestic air travel is back to pre-Covid levels, international traffic is lagging because of continued restrictions in some countries. India's recovery has continued to gain momentum in recent months but has been accompanied by elevated inflation. This slowed the momentum a bit. The country's oil demand had been rising steadily since the easing of COVID-19 restrictions. Cooking gas LPG sales fell 9.7 per cent year-on-year to 1.18 million tonnes from March 1-15. LPG consumption was 7.1 per cent higher than in March 2021 and 3.6 per cent more than in March 2020. Month-on-month, the demand dropped 15.10 when compared to 1.39 million tonnes of LPG consumption during February 1-15, the data showed. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/once-again-lemon-prices-soar-to-200-per-kilo/articleshow/98691510.cms">Once again, lemon prices soar to ₹200 per kilo</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/retail-tech-platform-dukaan-lays-off-30-of-its-workforce-second-layoff-in-6-months/articleshow/98692209.cms">Retail tech platform Dukaan lays off 30% of its workforce; second layoff in 6 months</a>

Petrol, diesel sales drop in first half of March after hitting record high in February

<ul><li>The levy on domestically produced crude oil too has been increased by ₹ 3,000 per tonne to ₹ 11,000.</li><li>The government raised the windfall profit tax on the export of diesel to ₹ 12 per litre from ₹ 5 a litre. </li><li><keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> first imposed windfall profit taxes on July 1. </li></ul> The government on Saturday hiked the windfall profit tax on the export of diesel to ₹ 12 per litre and that on jet fuel exports to ₹ 3.50 a litre with effect from October 16. The levy on domestically produced crude oil too has been increased by ₹ 3,000 per tonne to ₹ 11,000. After lowering the tax rates for two consecutive fortnights mirroring fall in global crude prices, the <keyword id="47209" type="General" weightage="50" keywordseo="finance-ministry" source="Orion">finance ministry</keyword> has brought about a hike in export taxes on crude, diesel and <keyword id="44833" type="General" weightage="100" keywordseo="atf" source="Orion">ATF</keyword>, in its latest review. At the seventh fortnightly review, the government raised the windfall profit tax on the export of diesel to ₹ 12 per litre from ₹ 5 a litre, and brought back the levy on ATF (Aviation Turbine Fuel) exports at ₹ 3.50 per litre, from nil, finance ministry said in a notification. While private refiners <keyword id="6487" type="General" weightage="50" keywordseo="reliance-industries-ltd" source="Orion">Reliance Industries Ltd</keyword> and Rosneft-based <keyword id="6594278" type="General" weightage="50" keywordseo="nayara-energy" source="Orion">Nayara Energy</keyword> are the principal exporters of fuels like diesel and ATF, the windfall levy on domestic crude targets producers like state-owned <keyword id="64243" type="General" weightage="50" keywordseo="oil-and-natural-gas-corporation" source="Orion">Oil and Natural Gas Corporation</keyword> (ONGC) and Vedanta Ltd. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. But international oil prices have cooled since then, eroding the profit margins of both oil producers and refiners. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/us-offer-to-help-india-in-chip-manufacturing-just-lip-service-china/articleshow/94882797.cms">US offer to help India in chip manufacturing just lip service: China</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/rishab-shettys-kantara-becomes-highest-rated-indian-film-beats-kgf-2-rrr/articleshow/94862419.cms">Rishab Shetty's 'Kantara' becomes highest-rated Indian film, beats 'KGF 2', 'RRR'</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/byd-atto-3-receives-5-stars-in-ncap-crash-test-ahead-of-india-sale/slidelist/94861839.cms">BYD Atto 3 receives 5 stars in NCAP crash test ahead of India sale</a>

Govt hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil

<ul><li>Mukesh Ambani-owned Reliance Industries announced a new pact with BP to sell fuel for airlines in India.</li><li>The company said that it will make about ₹7000 crore from the joint venture.</li><li>The announcement came with the company's quarterly earnings report.</li></ul>Mukesh Ambani-owned Reliance Industries announced a new pact with BP to sell fuel for airlines in India. The announcement came with the company's quarterly earnings report. "BP and RIL agreed to form a new joint venture that will include a retail service station network and aviation fuels business across India. Building on Reliance’s existing Indian fuel retailing network and an aviation fuel business, the partners expect the venture to expand rapidly to help meet the country’s fast-growing demand for energy and mobility. Reliance will get approximately ₹7,000 crore from BP’s investment in this joint venture," the statement said. 
 
 
 
 
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 The two companies formed a partnership in 2011 and decided to expand the tie-up in 2017. The two companies together operate fuel retailing outlets in the country and intend to increase the number of fuel-vending stations to 5,500. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-industries-retail-q2-earnings-report/articleshow/71651677.cms" data-type="tilCustomLink" target="_blank">Reliance Retail surprises with a sharp growth of 27.3% despite slowdown</a> <a href="https://www.businessinsider.in/top-highlights-from-mukesh-ambani-owned-reliance-industries-rils-quarterly-earnings/articleshow/71651084.cms" data-type="tilCustomLink" target="_blank">Reliance Industries posts a record profit even as refining and telecom verticals soften</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-jio-plans-made-more-money-but-added-fewer-subscribers/articleshow/71651933.cms" data-type="tilCustomLink" target="_blank">Reliance Jio added fewer subscribers in Q2 but made more money out of them</a>

Reliance Industries makes a new pact with BP to sell jet fuel in India

<ul><li>The Indian government has reduced the <keyword id="6356916" type="UNKNOWN" weightage="20" keywordseo="excise-duty">excise duty</keyword> on <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">aviation</keyword> turbine fuel from 14% to 11%, effective 11 October. </li><li>The move is meant as a boost for the aviation sector, which has been struggling with high fuel prices and an inability to pass on higher costs to consumers due to heavy competition in the sector. </li><li>However, the cut will be offset by the recent imposition of a basic customs duty of 5% on <keyword id="59783" type="PERSON" weightage="20" keywordseo="Jet-fuel">jet fuel</keyword> as part of the government’s attempts to reduce its trade deficit. </li></ul>India’s aviation sector hasn’t had an easy go of it this year. The losses have been mounting as fuel prices have shot up and the rupee has plummeted. This hasn’t been counterbalanced by an equivalent rise in airfare owing to heavy competition in the industry. In fact, according to CAPA, a consultancy, domestic <keyword id="44023" type="ORGANIZATION" weightage="20" keywordseo="airlines">airlines</keyword> are set to lose nearly $2 billion in 2018-19 owing to rising fuel costs. In response to the sector’s woes, India’s aviation ministry was said to be mulling <a href="https://www.businessinsider.in/the-indian-government-is-planning-a-rescue-package-for-the-aviation-sector-as-the-losses-pile-up/articleshow/65681289.cms">a rescue programme</a> for the nation’s struggling airlines by reducing the burden of aviation turbine fuel expenses as well as rupee pressures. It seems that the first part of that package is kicking in. Yesterday, a week after aviation turbine fuel prices reached <a href="http://www.uniindia.com/air-travel-to-get-costlier-as-aviation-fuel-price-rises/business-economy/news/1367075.html">their highest level since January 2014</a>, the revenue department of the Ministry of Finance said in a notification that the excise duty on aviation turbine fuel would be cut from 14% to 11%, effective 11 October. Aviation turbine fuel costs reportedly comprise <a href="https://www.livemint.com/Companies/spaKGpuoVHBoXGSXtDwtlN/Indianeeds-to-reduce-taxes-levied-on-aviation-sector-IATA.html">a third</a> of operational expenses of airlines. The move follows <a href="https://economictimes.indiatimes.com/industry/energy/oil-gas/government-gives-relief-of-rs-2-50-per-litre-on-petrol-diesel/articleshow/66068736.cms">a ₹2.50 per litre cut</a> in the excise duty on retail prices of petrol and diesel on 5 October. Aviation turbine fuel had been charged an excise duty <a href="https://www.livemint.com/Politics/TPhLGiz3cRxOmABTYZyuqM/Air-India-plans-hedging-fuel-costs-up-to-25.html">of 8%</a> as recently as a few years ago However, the government decided to hike the duty to 14% in 2016 as its tax revenues were declining amid a freefall in global oil prices. While it is envisioned as a boost for the sector, the recent excise duty cut can also be seen as a ploy by the current government to curry favour ahead of important state elections in Rajasthan and Madhya Pradesh by keeping airfare at manageable levels. However, the cut might not be as effective as intended. It will be offset by the recent imposition of a basic customs duty of 5% on aviation turbine fuel. At the end of September, the Indian government hiked import duties on 19 products in a bid to reduce its growing trade deficit. So in essence,unless state governments reduce the VAT on jet fuel, the duties will just cancel each other out, resulting in a zero-sum game.

India gives its airlines a breather by cutting duties on jet fuel

<ul><li>The aviation sector is batting for tax sops to help reduce their high cost and debt burden, according to ICRA.</li><li>According to the latest data from the DGCA, domestic airlines across the country carried 55.6 million passengers from January to November 2020, nearly 58% lower from what they carried in the same period last year.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>The never-seen-before coronavirus pandemic has cast a shadow on the aviation sector. The industry suffered a major cash crunch after thousands of flights daily came to a grinding halt in April. Coming out of the very difficult times, the sector is hoping for incentives and support from Finance Minister Nirmala Sitharaman in the upcoming <keyword id="8420431" type="UNKNOWN" weightage="20" keywordseo="budget-2021">Budget 2021</keyword> on February 1. From lowering air turbine fuel taxes (ATF) to fiscal stimulus and reducing airport, parking, landing, navigation charges — the experts have prepared a long list of tasks. <div type="Article" hostid="261" msid="80400869" title="Do not panic when Finance Minister Nirmala Sitharaman reads out the revised estimates" mstype="2" mssubtype="0"></div> According to the latest data from the Directorate General of Civil Aviation (DGCA), domestic airlines across the country carried 55.6 million passengers from January to November 2020, nearly 58% lower from what it carried in the same period last year — all thanks to the stigma around air travel. <div type="image" title="domestic air traffic (1)" msid="80562904" hostid="261"></div> Here’s what the experts are demanding for: Rationalisation of various taxes According to Kinjal Shah, vice president, ICRA, the aviation industry's deteriorating financial health has raised tax sops' expectations to help reduce their high cost and debt burden, especially lowering taxes on ATF. The ATF comprises nearly 30-40% of the total cost of an airline, and the prices in India are 45-50% higher, compared to international standard prices, she added. Though, ahead of the budget, the government has also hinted that it is planning on the same lines. Addressing a <a href="https://www.businessinsider.in/budget/news/various-taxes-may-rationalize-in-aviation-sector-in-budget-2021/articleshow/80186028.cms">webinar </a>on "Connecting the Dots-Recovery of aviation, tourism and hospitality", Usha Padhee, Joint Secretary, Ministry of Civil Aviation said, "we are working on a long-term plan to help the sector by rationalising various taxes. We are looking forward to making the ecosystem smarter and more efficient to make the aviation sector sustainable." "The policy rejig will also help the sector in the long run, if it is hit by a similar crisis in the future," she added. While this may incentivise and reduce the cost for the airlines over the long term, the sector still needs travellers to return to the airports. Regaining travelers trust is most important for revival The experts have also sought improvement in tourism experience and support related infrastructure along with other reforms to bring the travellers back to flying. Arvind Sharma, Partner, Shardul Amarchand Mangaldas &amp; Co said, "Development of iconic tourist destinations will aid in the development of the aviation sector. And, Prioritising, affordable and safe air travel will boost air travel demand significantly." Even the Confederation of Indian Industry (CII) has recommended that the tourism industry be brought under the 'concurrent list' by amending Schedule VII of the Constitution, thus helping both the Centre and states develop a comprehensive approach that is driven by unique needs of each state. <div type="Article" hostid="261" msid="80492345" title="Railways Budget 2021: Faster trains, higher funding and support for green railways — here’s what’s on the experts’ checklist" mstype="2" mssubtype="0"></div> Reduction in other levies The airport, parking, landing and navigation charges constitute a separate cost for the sector and the industry experts have asked for a reduction in the excessive levies along with other sops. "In the short term, the industry requires financial aid and reduction in levies and taxes to revive operations and increase passenger traffic, and in the long term, the aviation infrastructure requirements should be addressed," said Sharma. The CII in its pre-Budget memorandum <a href="https://timesofindia.indiatimes.com/business/india-business/budget-2021-aviation-expectations-baggage-allowance-duty-free-shop-union-budget-2021/articleshow/80213536.cms?">mentioned </a>that the government should include the aircraft components (such as computers, hardware, plastic, paints and tyres) under aircraft parts to avoid any disputes. These parts are currently assessed as per the CTH (Change of Tariff Heading) and charged at different rates. Remove cap on fare prices The government introduced a fare price band capping the air travel ticket prices for airlines to a minimum, in order to avoid exploitation by airlines. However, ICRA now believes that it is time for the government to remove the price band and let the airlines decide the ticket prices. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flight time </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current price cap </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40-60 minutes </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,500- ₹7,500; </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60-90 minutes </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,000- ₹9,000 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90-120 minutes </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,500- ₹10,000 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">120-150 minutes </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,500- ₹13,000 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">150-180 minutes </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,500- ₹15,700 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">180-210 minutes </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,500- ₹18,600 </td></tr></tbody></table> "Since the airlines have to currently follow a fare band as per the directives of the Ministry of Civil Aviation (MoCA), which is constraining their ability to charge higher fares, they want relaxations in terms of the fares they can charge," said Shah. According to the agency estimates, the Indian aviation industry is likely to report a significant net loss of $2 billion in FY2021 against a $1 billion net loss in FY2020. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/prime-minister-narendra-modi-signals-big-defence-budget-allocation-for-make-in-india/articleshow/80511082.cms" data-type="tilCustomLink">India’s Prime Minister Narendra Modi may just have signalled a big allocation for defence equipment manufacturing, 3 days before the budget</a> <a href="https://www.businessinsider.in/business/startups/news/priyanka-chopra-jonas-makes-another-tech-investment-this-time-in-us-based-rental-marketplace-apartment-list/articleshow/80554158.cms" data-type="tilCustomLink">Priyanka Chopra Jonas makes another tech investment – this time in US-based rental marketplace Apartment List</a>

You Searched For "jet fuel or ATF" and got 9 results

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Petrol, diesel sales drop in first half of March after hitting record high in February

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Reliance Industries makes a new pact with BP to sell jet fuel in India

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India gives its airlines a breather by cutting duties on jet fuel

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