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Home > Business > Budget 2004-05 > Report
FDI hiked in telecom, insurance
July 08, 2004 12:45 IST
Finance Minister P Chidambaram on Thursday proposed a hike in sectoral caps in telecommunications, civil aviation and insurance keeping pace with the rapid changes in these areas. In telecommunications, the existing cap of 49 per cent will be hiked to 74 per cent, he said in his budget speech. In civil aviation, it is proposed to be increased from 40 to 49 per cent while in insurance the cap has been raised to 49 per cent from 26 per cent, he added.
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