Govt to raise FDI insurance cap | business | Hindustan Times
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Govt to raise FDI insurance cap

business Updated: Oct 01, 2012 01:52 IST
Gaurav Choudhury

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.

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.