The Hindu Business Line : Fine with us, says Left

THE Left parties on Wednesday said that they had no objection to the Government's decision to go ahead with hiking the foreign direct investment cap in aviation.

"We have no objection to the proposal since control of the domestic airlines will remain in Indian hands. However, we are still opposed to issues such as privatisation of airports," senior leader of the Communist Party of India (CPI), Mr D. Raja, told Business Line.

He said the Cabinet has provided safeguards that his party was seeking. "Besides the fact that control will be in Indian hands it has also been provided that foreign airlines would not be allowed to pick up stake," he said.

The party still had reservations on the proposed hike in FDI caps in telecom and insurance, he said.

In similar vein, the CPI (M) leader, Mr Sitaram Yechury, said that his party had no objection to the FDI hike announced.

"The Cabinet has decided to increase the FDI cap from 40 per cent to 49 per cent in domestic private airlines only," Mr Yechury said.

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