Relief for Maharaja with 49% FDI
The cabinet has decided to allow foreign airlines to invest up to 49% investment in air
India. However, the cabinet made it clear that the investment should not exceed 49% either directly or indirectly and that the ownership and control of the national carrier would continue to be vested in Indian nationals. earlier, Niti aayog had proposed total privatisation of air India. It cited various international examples of governments selling their entire stakes in airlines and not retaining any shareholding to make them viable. air India was given a ₹30,231-crore lifeline in 2012 as part of a turnaround plan that was spread over nine years. over half of that time has already gone. In the remaining time, some difficult and harsh decisions need to be taken so that losses can be cut and privileges are ended. The national carrier was founded by JRD Tata as Tata airlines in 1932. after the second world war on July 29, 1946, air India commenced operations. It has been 70 long years since then and the news has been far from good even though India is quite a promising country for aviation. Besides, the cabinet approved 100% FDI under automatic route for single-brand retail trading. also, 100 percent FDI under automatic route in construction development has been allowed. Investors have been allowed to invest in power exchanges through primary market.