Indian government considering ₹5,000cr ECLGS lifeline as jet fuel spikes
Business
The government is thinking about giving Indian airlines a ₹5,000 crore lifeline through the Emergency Credit Line Guarantee Scheme (ECLGS).
With jet fuel prices spiking because of the U.S.-Iran conflict, this move is meant to help airlines handle rising expenses and keep flying.
The Cabinet is expected to review the proposal soon.
Capped collateral-free government-backed loans for airlines
If approved, airlines could get collateral-free loans backed by the government, but with a cap so everyone gets a fair shot.
Jet fuel costs have jumped lately, and fewer people are flying as ticket prices rise.
This aid could offer some much-needed breathing room for India's aviation sector right now.