rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Budget 2012: Govt trying to reach consensus on FDI

Budget 2012: Govt trying to reach consensus on FDI

Last updated on: March 16, 2012 13:49 IST

Budget 2012: Govt trying to reach consensus on FDI

     Next

Next

The government said consultations are on with states to arrive at a broad-based consensus on allowing 51 per cent foreign direct investment in the politically-sensitive multi-brand retail trade.

Finance Minister Pranab Mukherjee, while presenting the Budget for 2012-13, also said a proposal to allow foreign airlines acquire up to 49 per cent equity in air transport undertakings is under active consideration.

Click NEXT to read more...

Union Budget 2012-13: Complete coverage

Image: Plan to allow foreign airlines to acquire stake under consideration.
Photographs: Reuters

     Next

Budget 2012: Govt trying to reach consensus on FDI

Prev     Next
Prev

Next

Following widespread opposition, including from its own allies and several states, the government suspended its decision to allow 51 per cent FDI in multi-brand retail.

"Efforts are on to arrive at a broad-based consensus with state governments on allowing FDI in multi-brand retail up to 51 per cent," he said.

In November last year, the cabinet allowed 51 per cent FDI in multi-brand retail and 100 per cent FDI in single-brand retail.

Click NEXT to read more...

Union Budget 2012-13: Complete coverage

Image: In November, the cabinet allowed 51 per cent FDI in multi-brand retail.
Photographs: Reuters
Tags: FDI

Prev     Next

Budget 2012: Govt trying to reach consensus on FDI

Prev     More
Prev

More

While the decision on FDI in the multi-brand retail sector has been held back, the government has gone ahead with allowing foreign investment in single-brand retail to 100 per cent from the earlier 51 per cent.

The government is again carrying out consultations with stakeholders like farmer associations, consumer associations and food processing industry to reach on a consensus on the issue.

Union Budget 2012-13: Complete coverage

Image: Government is again carrying out consultations with stakeholders.
Photographs: Reuters
Tags: FDI

Prev     More
© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.