E-Paper
Govt to raise FDI insurance cap
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.
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.
