Mumbai: The government has proposed to hike the foreign direct investment ( FDI) limit in domestic air carriers from existing 49%, finance minister Nirmala Sitharaman said in her maiden budget speech on Friday.
“The government will examine suggestions of further opening up of FDI in aviation, media (animation, AVGC) and insurance sectors in consultation with all stakeholders,” Sitharaman said.
The push from the government to increase FDI limits in aviation could help troubled airlines such as Air India and Jet Airways, which had been grounded since 18 April due to an acute fund crunch, find buyers.
