All go in Indian news while China continues to lock out Airbus from its market: The ETS – The trade war is on…..

In a bid to address concerns of the civil aviation sector, Indian finance minister Pranab Mukherjee today proposed to allow domestic airlines to borrow up to $1 billion in external loans for a period of one year: “To address the immediate financing concerns of the civil aviation sector. I propose to permit external commercial borrowing (ECB) for working capital requirement for the airline industry for a period of one year subject to a ceiling of $1 billion,” Mukherjee said while presenting the union budget 2012-13 to the Lok Sabha. ECB is of course a financial instrument used by the government