NEW DELHI: The government has cleared 21 foreign direct investment (FDI) deals worth Rs 281 crore but deferred Kotak Mahindra Bank's proposal to hike foreign investment limit in the bank to 55 per cent.

"The government has approved 21 proposals of foreign direct investment (FDI) amounting to Rs 280.70 crore," a finance ministry statement said today.

FDI proposals under approval route are cleared by the Foreign Investment Promotion Board (FIPB). However, those proposals involving investment of more than Rs 3,000 crore are given final clearance by the Cabinet Committee on Economic Affairs (CCEA).

The proposal of pharma firm La Renon Healthcare to invest Rs 100 crore in a brownfield project was cleared by the FIPB in its meeting on April 30.

The inter-governmental panel, chaired by Economic Affairs Secretary, also cleared Blue Dart Express's proposal to acquire shares in Blue Dart Aviation Ltd and hike shareholding to 74 per cent from 49 per cent. This would entail investment between Rs 52.8 crore to Rs 69 crore.

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