A statue of Mahatma Gandhi stands in front of Parliament House (Photographer: T. Narayan/Bloomberg)
6 years ago
Aug 28, 2019
The Union Cabinet is expected to relax foreign direct investment norms in several sectors, including single-brand retail and digital media, to attract overseas players.
The Cabinet has approved a proposal to allow 100 percent FDI in coal mining and allied activities through the automatic route. Currently, FDI is permitted for captive coal mining only.
The Cabinet has also approved forming an international coalition on disaster management infrastructure. Prime Minister Narendra Modi will facilitate this at the upcoming United Nations meet, Javadekar said.
The Cabinet has approved a proposal to open up 75 new government medical colleges over the next three years. These will be set up where there is a dearth of such educational institutes.
In the last five years, the Modi government has set up 82 colleges, Javadekar said.
The Union Cabinet is expected to relax foreign direct investment norms in several sectors, including single-brand retail and digital media, to attract overseas players.
Commerce Minister Piyush Goyal and Information and Broadcasting Minister Prakash Javadekar is expected to address the media shortly after Wednesday's cabinet meeting.
Other sectors where FDI rules may be eased are coal mining and contract manufacturing. The government may also approve proposal to allow 100 percent FDI in contract manufacturing, sources told PTI.
