External borrowing eased in three embattled sectors

By Sawant Singh and Davis Kanjamala, Phoenix Legal

India’s Union Budget projected a growth rate of 7.6% over the fiscal year that started on 1 April. Among the critical sectors having a bearing on the attainment of this target are civil aviation, power, and roads and highways.

Recognizing the need for low-cost funding for players operating in these sectors, the Reserve Bank of India (RBI) has issued a flurry of circulars liberalizing the external commercial borrowings (ECB) regime to improve the current state of affairs.

Sawant Singh Partner Phoenix Legal
Sawant Singh
Phoenix Legal

Clearer skies for aviation?

The Indian civil aviation sector has been in the news in recent times, most often for the wrong reasons. The Union Budget contained several concrete proposals to get the industry out of the doldrums.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.



Sawant Singh is a partner and Davis Kanjamala is an associate at the Mumbai office of Phoenix Legal.


New Delhi

Second Floor,

254, Okhla Industrial Estate,

Phase III, New Delhi-110020


Tel +91 11 4983 0000

Fax: +91 11 4983 0099

Email: delhi@phoenixlegal.in


First Floor, CS-242,

Mathuradas Mill Compound,

NM Joshi Marg, Lower Parel

Mumbai – 400 013, India

Tel: +91 22 4340 8500

Fax: +91 22 4340 8501

Email: mumbai@phoenixlegal.in