Finance Minister Nirmala Sitharaman, in her Budget speech, said the government is considering a proposal to increase foreign direct investment (FDI) limit in aviation, media, animation & insurance sectors.
"FDI will be permitted for insurance intermediaries", Sitharaman on Friday.
Currently, the FDI policy permits 26 percent foreign direct investment in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route.
The foreign investment up to 49 percent was allowed under automatic route in domestic airlines but this limit was raised to 100 percent in 2016, with FDI up to 49% permitted under automatic route and FDI beyond 49 percent through Government approval.
The Finance Minister on Thursday tabled in Parliament the pre-Budget Economic Survey for 2018-19, which projected the state of the economy and outlined its challenges. The survey was released by Chief Economic Adviser Krishnamurthy Subramanian.
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First Published: Jul 5, 2019 11:42 AM IST
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