Union Budget 2012-13: FDI in aviation by global airlines under active consideration, says FM

The government is actively considering allowing FDI in aviation by global airlines, Finance Minister Pranab Mukherjee said while presenting the Budget 2012-13.

By Agencies | Updated: Mar 16, 2012, 11.52 AM IST

NEW DELHI: The government is actively considering allowing FDI in aviation by global airlines, Finance Minister Pranab Mukherjee said while presenting the Budget 2012-13.

He added that Indian airlines will be allowed to raise up to $ 1 billion via ECBs.

India's financially troubled civil aviation sector grew at 18.5 per cent in the last seven years and the government has taken various steps to resolve the woes faced by airline industry, the Economic Survey for 2011-12 said Thursday.

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