Hiccup over foreign funds in telecom

 The group of ministers on telecom today sidestepped a decision on hiking the foreign investment limit in the sector from 49 per cent to 74 per cent, by referring the issue to the Union Cabinet citing security concerns.

 The ministerial group had on September 25 agreed in principle to the proposal and had asked the department of company affairs to suggest amendments to the Companies Act to ensure that management control remained with Indian promoters.

 The group, headed by Finance Minister Jaswant Singh, also paved the way for limited mobility telecom operators to offer full-fledged mobile services by accepting the Telecom Regulatory Authority of India