New push for FDI in multi-brand retail & aviation soon

Soon after petrol price hikes, there are talks that the government may even go-ahead with pending FDI approvals. With the weak market and sliding rupee, the government is pushing FDI in multi-brand retail and aviation soon, reports CNBC-TV18 quoting sources.

It is learnt that approvals in both the sectors may be cleared before the next Parliament session begins as the government is likely to hold consultations with allies shortly. Commerce ministry and CMs are meeting on retail FDI next month and decide if states should allow or stop FDI funded retail stores. The aviation ministry too is going to consult allies on foreign airline investment.

Cabinet note on foreign airline investment is ready. However, Mamata-led Trinamool Congress and  Mulayam Singh Yadav-led Samajwadi Party is opposed to FDI in both the sectors.