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Govt defers decision on hiking foreign investment in telecom
New Delhi, Oct 31: The government tonight deferred a decision to hike foreign investment limit in telecom sector to 74 per cent from the existing 49 per cent, presumably on account of objections raised by one intelligence agency.
New Delhi, Oct 31: The government tonight deferred a decision to hike foreign investment limit in telecom sector to 74 per cent from the existing 49 per cent, presumably on account of objections raised by one intelligence agency.
Following the objections, the empowered group of ministers on telecom headed by Finance Minister Jaswant Singh had left the decision on hiking the investment limit to the
Cabinet.
The issue of foreign investment, decision on which is eagerly awaited by cellular firms like Sunil Mittal-promoted Bharti and Hutchison-Essar, would not be looked into by Singh, Communications Minister Arun Shourie told reporters after the Cabinet meeting.
Bureau Report