Ministry OK with 26% FDI in airlines
The civil aviation ministry has agreed to the proposal of allowing foreign carriers to buy a 26% stake in private airlines, sources said. Earlier the aviation ministry had pro posed to fix a cap of 24% on foreign direct investment (FDI) by overseas carriers. “They (the civil aviation ministry) have come on board for 26% FDI,“ a senior government official said. He declined to divulge the details.Relax lending norms for textile sector
The textiles ministry has said it will urge the Reserve Bank to relax lending norms for the textile industry which has been hit by volatility in raw material prices and a slump in domestic demand. “Something needs to be done...something needs to be worked out regarding the asset classification (norms). Whether the Reserve Bank of India (RBI) let its guard down on some of the norms that is something we have to work very hard upon in this month,“ textiles secretary Rita Menon said.
(Source-: mintlive.com)
