The Congress Govt. had already allowed the foreign countries to encroch upon our Indian Economy by allowing them liberally to invest.The Civil Aviation Department is now being given up to foreigners. Though they are now the ruling party, have they the authority to give away such National Properties for their personal gains ?
ENHANCEMENT OF FOREIGN DIRECT INVESTMENT CEILING FROM 49 PER CENT TO 74 PER CENT IN TELECOM SECTOR
Date : 07 Nov 2005
Location : New Delhi
In pursuance of the Governments commitment to liberalise the FDI regime, it has been decided to enhance the Foreign Direct Investment ceiling from 49 per cent to 74 per cent in certain telecom services [such as Basic, Cellular, Unified Access Services, National/International Long Distance, V-Sat, Public Mobile Radio Trunked Services (PMRTS), Global Mobile Personal Communications Services (GMPCS) and other value added services], subject to the following conditions:-
The total composite foreign holding including but not limited to investments by Foreign Institutional Investors (FIIs), Non-resident Indians (NRIs), Foreign Currency Convertible Bonds (FCCBs), American Depository Receipts (ADRs), Global Depository Receipts (GDRs), convertible preference shares, proportionate foreign investment in Ind ...more
As long as India Inc dictates India, this will continue to happen, and I won't be surprised if the 9-10-11 deal comes out when I become 80. Which is leasing out Mumbai to the US for management.
This is as bad as stealing the Kohinur diamond, from a national PoV.
But our other political parties are equally currupt