Mumbai:
Amid unstable fuel prices due to tensions in the Middle East, the government on Wednesday approved a one-time budgetary support of Rs 10,000 crore for oil marketing companies (OMC) to provide aviation turbine fuel (ATF)ย price stabilisation to Indian airlines for domestic and international operations. The decision was taken by the Union Cabinet, chaired by Prime Minister Narendra Modi. Sharing the details of the meeting, Union Minister Ashwini Vaishnaw said the budgetary support shall be in the form of interest-free advances to OMCs through the Demands for Grants of the Ministry of Petroleum and Natural Gas.