The government clears a slew of major pending reform proposals, including the politically contentious 51 per cent FDI in multi-brand retail. ...
11:39 PM, Sep 14, 2012
New Delhi: The Manmohan Singh Administration has made a crucial change in a key requirement for allowing a foreign company to start a fully-owned single-brand retail business in India. When the government had cleared 100 per cent Foreign Direct Investment (FDI) in single-brand retail earlier, it had stipulated that 30 per cent of the value of the products being sold must be sourced from small and medium industries in India....
10:53 PM, Sep 14, 2012
New Delhi: In the boldest decision taken by Prime Minister Manmohan Singh in UPA-II, the government has bet big on crucial reforms that are bound to bring a big cheer from industry. However, the move has also put the government in troubled water politically with the Opposition and some key allies voicing strong differences. Just like Manmohan Singh had put the survival of his government at stake over the Indo-US...
09:30 PM, Sep 14, 2012
New Delhi: The Government's decision on Friday to allow up to 51 per cent foreign direct investment in multi-brand retail comes with a clever move to diffuse potential opposition from UPA allies. The new policy clearly says that each state government has the right to decide whether to implement the policy or not. For those of the UPA allies who are in power in the states " most notably, Mamata...
08:54 PM, Sep 14, 2012
New Delhi: Prime Minister Manmohan Singh on Friday justified the decisions on allowing FDI in multi-brand retail and some other areas, saying these were aimed at pushing economic growth and generating employment in "difficult times". He said the steps had been taken in national interest and sought support of all segments on this. "The Cabinet has taken many decisions today to bolster economic growth and make India a more attractive...
08:25 PM, Sep 14, 2012
New Delhi: In a big bang economic push, the government on Thursday approved 51 per cent foreign direct investment (FDI) in multi-brand retail. The government, however, left the option on the states to invite multi-brand retails. Here is the full text of the decision taken by the government at the Cabinet Committee on Economic Affairs meeting: Permitting FDI in multi-brand product retail trading The Cabinet has approved the proposal of...
07:03 PM, Sep 14, 2012
New Delhi: In a major decision signalling the end of policy paralysis in the UPA government, the Cabinet Committee of Economic Affairs (CCEA) on Thursday accepted 51 per cent foreign direct investment (FDI) in multi-brand retail. The government has, however, left the option to invite multi-brand retail on the states. There is an opt out clause in the FDI in multi-brand retail, which has been the most contagious of the...
05:57 PM, Sep 14, 2012
New Delhi: Notwithstanding resistance by allies, the Centre is likely to allow investment by foreign airlines in Indian aviation industry which could benefit troubled companies like Kingfisher, Spicejet and Go Air. Gulf-based carriers like Emirates could be the first foreign airlines to enter the Indian aviation sector. Sources say that the government could also hike FDI limit in broadcasting, insurance and pension sectors. The government might let the states take...
04:49 PM, Sep 14, 2012
New Delhi: After months of dithering, the government could finally clear Foreign Direct Investment (FDI) in aviation when the Cabinet committee on economic affairs meets on Friday. Aviation sector in India has not being doing well. Several airlines like the Vijay Mallya-owned Kingfisher Airlines are struggling but that doesn't mean that there is no demand. The carriers in the Middle East like Qatar and Emirates understand the dynamics of the...
07:29 AM, Sep 14, 2012
New Delhi: Union Civil Aviation Minister Ajit Singh on Thursday met Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee to discuss foreign direct investment (FDI) in aviation sector. According to sources, the government is likely to bring the issue of FDI in aviation to the Union Cabinet by the end of May. The government is also likely to reach out to its allies, including Trinamool Congress chief Mamata Banerjee,...
05:30 PM, Apr 19, 2012
New Delhi: Air India would get additional fund of Rs 30,000 crore from the Central Government to turn around the airline's fortunes following the Cabinet approving a financial restructuring plan for the company. Civil Aviation Minister Ajit Singh said that the aviation industry was in trouble in India and after the restructuring plan Air India, which had not been able to pay salaries to the employees for some time, would...
04:35 PM, Apr 12, 2012
