Budget 2019-20: Aviation, Media And AVGC Sectors To Be Opened Up To More FDI

Finance Minister Nirmala Sitharaman (Kunal Patil/Hindustan Times via Getty Images)

Presenting the Union budget for the financial year 2019-20, Finance Minister Nirmala Sitharaman outlined several measures which the government would take to further open up the economy to Foreign Direct Investment (FDI).

She stated that the government would examine proposals to open up more several different sectors to FDI, including aviation, media, animation, AVGC and insurance. Moreover, she revealed that 100 per cent FDI would now be allowed for companies acting as insurance intermediaries.

Sitharaman said that the government would also relax local sourcing norms for FDI in single-brand retail.

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