PM to consult senior ministers over introducing FDI in domestic aviation

   Apr 17, 12:56 pm

New Delhi, April 17 (ANI): The Prime Minister, Dr. Manmohan Singh, is likely to consult senior ministers of his cabinet on ways to build a consensus on the contentious issue of allowing foreign airlines to invest in domestic carriers.

The Department of Industrial Policy and Promotion (DIPP) have reportedly moved a final cabinet note on the issue.

Dr. Singh is likely to hold consultations with Finance, Commerce and Home Ministers, besides, Railways Minister Mukul Roy, who is from the Trinamool Congress (TMC), a key ally in the UPA Government," they said.

The TMC had forced the government to put on hold the decision to allow 51 per cent foreign direct investment (FDI) in multi-brand retail.

Finance Minister Pranab Mukherjee in his Budget speech had said that a proposal to allow foreign airlines to participate with up to 49 per cent in the equity of an air transport undertaking, engaged in operation of scheduled and non-scheduled air transport services, is under active consideration of the government.

At present, India allows foreign investors, not related in any way to airline business, to buy up to 49 per cent stake in domestic airlines, but foreign carriers are not permitted to invest in them. (ANI)

NEC introduces 'SAP Business By Design' cloud-based ERP service in Asia Apr 27, 8:02 pm
Tokyo, Apr. 27 (ANI): The NEC Corporation announced today the introduction of 'SAP Business By Design' cloud-based enterprise resource planning (ERP) service to three of Suntory Beverage and Food Asia Pte. Ltd.'s newly-established subsidiaries in Singapore, Malaysia and Hong Kong in collaboration with Suntory Business Expert Limited.
Full Story
Jaitley dubs FY 1991 as 'defining moment' for Indian economy Apr 27, 12:25 pm
New Delhi, Apr. 27 (ANI): Finance Minister Arun Jaitley on Monday described Fiscal 1991 as a defining moment for India, which marked a process where the country decided to unleash energies of its citizens rather than restrict them.
Full Story
GST Bill: Lok Sabha to take up discussion today Apr 27, 10:14 am
New Delhi, Apr. 27 (ANI): The Goods and Services Tax or GST has been listed for consideration and passage in Lok Sabha on Monday.
Full Story
Shahnaz Husain Group keen to set up joint venture, expansion into international market Apr 26, 7:53 am
New Delhi, Apr.26 (ANI): The Shahnaz Husain Group said on Sunday that it plans to set up joint ventures with reputed global business houses and multinational companies to mark its presence in new markets.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY