Maran discusses FDI with PM

NEW DELHI: Amid reports of a tussle between the Ministry of Finance and the Department of Telecommunications, Telecom Minister Dayanidhi Maran met Prime Minister Manmohan Singh last week and apprised him of the Cabinet Note being prepared by the DoT.

According to sources, Maran endorsed Finance Minister P Chidambaram''s announcement of raising FDI in telecom to 74 per cent but favoured management control with the Indian partner even though it would have 26 per cent stake.

The DoT has, however, left the issue to the various stakeholders to negotiate among themselves in case of a rift.

Maran and his deputy Shakeel Ahmed, in their meeting with Singh, are believed to have said the Cabinet note would be sent to the PMO soon.

The note suggests that 74 per cent be given to foreign partner(s) including NRIs, public and foreign private bodies.

Earlier, DoT had sought suggestions on this from intelligence agencies in case of security threats on sensitive information passed on outside India by the foreign partner.

The Left parties have expressed objection stating that the proposed hike would jeopardise the country''s security.

Last week, Prime Minister Manmohan Singh had said the country needs higher doses of FDI.