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)

Sustained action needed to end hoarding, black marketing of essential food items: Paswan Jul 7, 7:10 pm
New Delhi, July 7 (ANI): Consumer Affairs, Food and Public Distribution Minister Ram Vilas Paswan on Tuesday emphasised that there was a need for coordinated action by the Central Government and the States to contain price increase of essential food items.
Full Story
Chemical, petrochemical imports impacting domestic value addition, wealth creation (Update) Jul 7, 6:07 pm
New Delhi, July 7 (ANI):India has emerged as one of the biggest importers of petrochemicals, resulting in sizeable capital outflow apart from impacting the economy because of its inability to produce finished products and its consequent import resulting in sub-optimal wealth creation, said Surjit K Chaudhary, Secretary, Department of Chemicals and Petrochemicals.
Full Story
RBI Reference Rate for USD is Rs.63.37 Jul 7, 5:42 pm
Mumbai, July 7 (ANI): The Reserve Bank of India's reference rate for the US dollar was pegged at Rs. 63.3749 on July 7.
Full Story
RBI declares variable rate reverse repo auction results (Update) Jul 7, 5:34 pm
Mumbai, July 7 (ANI): The Reserve Bank of India (RBI) on Tuesday declared the results of the overnight and the variable rate reverse repo auction here.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY