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)

'Few partnerships so rich in promise as ours', says PM Modi Jan 26, 9:32 pm
New Delhi, Jan. 26 (ANI): Prime Minister Narendra Modi on Monday said there were few partnerships which were so rich in promise and so capable of shaping the world as the one between India and the United States.
Full Story
'You will find an open and welcoming environment here,' says PM Modi tells business leaders Jan 26, 9:07 pm
New Delhi, Jan. 26 (ANI): Prime Minister Narendra Modi on Monday told business leaders that they will find an open and welcoming environment in the country that encourages investment and rewards enterprise.
Full Story
'PM Modi and I are interested in smart regulation', says President Obama Jan 26, 7:46 pm
New Delhi, Jan. 26 (ANI): Asserting that there was a natural convergence between the United States and India, U.S. President Barack Obama on Monday said he and Prime Minister Narendra Modi were interested in smart regulation.
Full Story
'Pro-people, good governance is solution to all problems': PM Modi at India-US CEO Forum meet Jan 26, 7:31 pm
New Delhi, Jan. 26 (ANI): Prime Minister Narendra Modi on Monday told business leaders at the India-US CEO Forum meet here that pro-people, good governance is the solution to all their problems.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY