Unveiling a draft budget after a major victory in national elections, Finance Minister Nirmala Sitharaman Sitharaman proposed a bigger role for foreign direct investment in aviation, media and insurance. Sitharaman said foreign direct investment in aviation, media and insurance could be opened further after multi-stakeholder examination. The finance minister said foreign direct investment in India has remained robust despite global headwinds. The government will invest 1 trillion rupees ($15 billion) in infrastructure over the next five years, Sitharaman said. The government also earmarked 100 billion rupees ($1.5 billion) for creating the infrastructure to promote electric cars in the country.

Source: Pakistan Today July 05, 2019 11:15 UTC