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HindustanTimes Sat,20 Sep 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.

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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.


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