Advertisement

HindustanTimes Tue,23 Dec 2014

Govt to raise FDI insurance cap

Gaurav Choudhury, Hindustan Times  New Delhi, October 01, 2012
First Published: 00:22 IST(1/10/2012) | Last Updated: 01:52 IST(1/10/2012)

The government is planning a host of measures in the coming days, including the politically bold move of raising the foreign direct investment (FDI) cap in insurance companies to 49% from the present 26%, as well as a multi-billion dollar mega-fund to support infrastructure projects such as expressways, ports and railways.

Advertisement



Government sources told HT that the Prime Minister Manmohan Singh-headed Union Cabinet is likely to consider some of these proposals in its meeting scheduled for later this week.


A proposal to set up a national investment board — a brainchild of finance minister P Chidambaram — empowered to speed-up projects stuck at various stages of regulatory and procedural approvals, is also likely to be given the go-ahead this week, sources said.


Advertisement
more from Business

An airline is born: Can Vistara soar while others bleed?

India's newest airline announced Monday it would start flying next month and was 'enthusiastic' about the future, even as rival carriers bleed red ink. The new airline, called Vistara will make its first flight on January 9. 

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved