New Delhi: The Group of Ministers on foreign direct investment (FDI) on February 27 favoured raising the FDI limit in telecom sector from the present 49 per cent to 74 per cent and decided to recommend raising the ceiling in case of airlines.

The group headed by Finance Minister Jaswant Singh would send its recommendations to Cabinet for consideration, sources said.

The GoM also favoured raising the ceiling on foreign direct investment in airline sector from the present 40 per cent to 49 per cent, they added.

PTI