The Central Government on Sunday extended the scope of the Emergency Loan Facility Guarantee Scheme (ECLGS) to include the civil aviation sector as well.
Mumbai. The Central Government on Sunday extended the scope of the Emergency Loan Facility Guarantee Scheme (ECLGS) to include the civil aviation sector as well. This decision will provide relief to the badly affected civil aviation sector due to Kovid-19 from the cash crunch crisis. People associated with the industry said that the decision to include the civil aviation sector in the ECLGS scheme has been taken at the right time. This will reduce the pressure on the sector slightly and reduce the cash problem.
The civil aviation sector severely affected by the Corona infection was expected to be helped by the government. The Ministry of Civil Aviation recently allowed domestic airlines to limit capacity by 50 percent from June 1 in view of the second wave of Kovid-19.
Restrictions in several states to control the growing cases of corona have significantly reduced air traffic. In a statement on Sunday, the Finance Ministry said that due to Kovid-19, many economic activities have been affected due to which it has been decided to expand the scope of ECLGS.
The civil aviation sector is included under the ECLGS 3.0 scheme. In March, the hospitality, travel and tourism sectors were included in the ECLGS 3.0 scheme. The Finance Ministry has also removed the existing limit of Rs 500 crore arrears under ECLGS 3.0.
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