News: 'No plans to raise FDI in insurance'

(RTR 08/08/2006) New Delhi - India has no immediate plans to raise foreign investment limit in insurance, telecommunication and civil aviation, junior finance minister said on Tuesday.

The limit on foreign direct investment (FDI) in telecommunication is 74 percent and on civil aviation 49 percent, both of which were raised from 49 and 40 percent respectively over the past two years.

In insurance, the limit has remained at 26 percent because of opposition from the communist allies of the ruling Congress-led coalition.

"There is no proposal at present to increase foreign direct investment in telecom, insurance and civil aviation," Pawan Kumar Bansal said in a written reply to parliament.