Govt considering opening up FDI in aviation, media:Union Budget 2019
India’s government proposed easing rules for foreign investors, while pledging to boost infrastructure spending to help spur growth in the economy.
In her first budget speech to Parliament in New Delhi, Finance Minister Nirmala Sitharaman said the government will consider further opening up foreign direct investment in aviation, while easing local sourcing norms for single-brand retail companies.
Prime Minister Narendra Modi, who returned to office in May following a landslide election victory, is under pressure to revive consumption and investment in the economy. Latest data showed growth slipped to a five-year low 5.8% in the three months to March.