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)

LeEco's superphone 'Le 1s' available for just Rs. 9999 as introductory offer May 4, 3:11 pm
New Delhi, May 4 (ANI): LeEco's newly launched Le 1s (Eco) has made waves in the industry after its launch at an event in Mumbai, showcasing its unique content integration model and features apart from its attractive price range of Rs. 9999.
Full Story
Square Yards, Deyaar tie-up to showcase property for Indian investors May 4, 2:00 pm
New Delhi, May 4 (ANI): Dubai's leading real estate developer, Deyaar Development PJSC, announced an exclusive property showcase event in Mumbai for its Dubai's properties on the May 7th and 8th, where it will host a property showcase along with India's leading real estate aggregator Square Yards.
Full Story
Couponhaat successfully completes one year of operations May 4, 1:33 pm
New Delhi, May 4 (ANI-NewsVoir): Delhi based start-up and India's leading coupons and deals company, Couponhaat announces the completion of its first year of operation. Couponhaat started its operation in the month of April 2015, with a team of just four. Presently, the size of the team has increased to more than 20 people.
Full Story
Blueair calls for 'Clean Air Zones' targeting high-polluting vehicles in India May 4, 12:44 pm
New Delhi, May 4 (ANI-NewsVoir): Cities and towns in India should establish 'clean air zones' to target high-polluting vehicles to help ensure they do not enter city centers, says Blueair a global leader in mobile indoor air purifying technologies. The call by Blueair comes in response to the growing scientific evidence that car, truck and bus emissions are the biggest contributor to early deaths in cities.
Full Story
Comments