Govt May Allow 49 Pc FDI In Airlines

The Union Cabinet at its meeting tomorrow is likely to take a decision to allow 49 per cent foreign direct inestment in private airlines.

With this,the government is set to again allow foreign airlines to take stakes in Indian carriers after 16 years.

.The move is likely to help ailing domestic operators like Kingfisher raise funds. More importantly,it could pave the way for start-up joint ventures.

The commerce and industry ministry on Tuesday circulated a cabinet note seeking comments from other ministries on permitting 49% FDI,and is hoping that the proposal will go through in its present form as the finance and civil aviation ministries have already agreed to it, reports TOI.

From: http://www.indiatvnews.com/business/India/Govt_May_Allow_Pc_FDI_In_Airlines-1691.html