Finance Minister Nirmala Sitharaman on Friday proposed to increase the foreign direct investment in domestic air carriers from the existing 49%, a move that may help the government find buyers for the troubled Air India.
Delivering her maiden budget speech, Nirmala also spoke about making India a hub for leasing aircraft and aviation finance, a move that would help the country save on precious foreign exchange.
“The government will examine suggestions for further opening up of FDI in aviation, media (animation, AVGC) and insurance sectors in consultation with all stakeholders,” the Finance Minister said.
She also announced that the government will reinitiate the process of strategic disinvestment in Air India as well as other central public sector undertakings (CPSUs)
