New Delhi, June 3 -- To insulate the economy from the ripple effects of the West Asia conflict, the Union cabinet on Wednesday approved two major interventions worth nearly Rs.20,000 crore-a Rs.10,000-crore fuel price stabilization fund (PSF) for the aviation sector, and a Rs.9,585-crore clean transport scheme for Delhi-NCR.

Mint had reported earlier this year that the government is planning a PSF for petroleum products.

The PSF for aviation will offer interest-free advances to oil marketing companies (OMCs), which will help them offer aviation turbine fuel (ATF) at steady prices to Indian airlines, reducing the impact of soaring global jet fuel costs, which is their most significant expense head.

Separately, the clean mobility scheme ...