Rajya Sabha
The Minister of State (Independent charge) for Overseas Indian Affairs, Shri Jagdish Tytler told the Rajya Sabha today that NRIs are allowed to invest upto 100% in domestic airlines, under the automatic route. This facility has not been extended to PIOs.
The Minister further said that the benefits that Overseas Citizens of India (OCI)s will be entitled to, will be notified by Ministry of Overseas Indian Affairs by virtue of the amendment to Citizenship Act under Section 7B of the said Act. Among the benefits OCIs will be entitled to be treated at par with NRIs in educational, cultural and economic areas. However, parity of PIO Card holders with NRIs in the domestic air transport sector is still under consideration of the Ministries concerned, he added.
This information was given by Shri Tytler in reply to a question by Smt. Kamla Manhar.
AK/SK/JA
(Release ID :10584)