The Union government on August 1 approved the amendment or relaxation of the foreign direct investment (FDI) policy on multi-brand retail trading (MBRT), by easing main contentious riders on such money. These three riders, added as conditions to last yearÂ’s decision to open FDI in this segment, were on a mandatory 30 per cent sourcing from small domestic industries, 50 per cent of the investment to be in back-end infrastructure and outlets to be opened only in cities with population of more than
Tag: Policy
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Finance ministry opposes proposal of oil ministry
In a move that may delay the introduction of shale gas policy, the union petroleum ministry may have to work on a fresh proposal and another round of consultations could take place. This is because the finance ministry opposed the petroleum ministryÂ’s move to allow existing oil and gas explorers to find shale gas in their respective blocks.
The
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Govt finding new Governor of RBI
Finance Minister P Chidambaram informed reporters that the government was looking out for a new Governor for Reserve Bank of India (RBI). It is learnt that the present Governor D Subbarao is due to retire in September. The government is reportedly considering some names like the Planning Commission member Saumitra Chaudhuri, Economic Affairs Secretary Arvind May
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Panel suggests govt to conduct due diligence
A Parliamentary panel report shows that the government has not conducted any due diligence before clearing the proposal to hike domestic natural gas price in line with the Rangarajan committee recommendation. According to the report, submitted by the parliamentary standing committee on finance,
the
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Meghalaya govt to reconsider mining policy
In order to address the concerns of all stakeholders, Meghalaya government decided to reconsider the state Mines and Minerals Policy, 2012 and implement it after holding wide consultations with them. It may be recalled that the state Mines and Minerals Policy, 2012 allows miners to continue with rat-hole coal
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Industry bodies welcome FDI relaxation in key sectors
Industry bodies like Assocham and Confederation of Indian Industry (CII) welcomed the government's move to attract more foreign direct investment (FDI) in certain sectors. The government recently allowed 100 per cent FDI in telecom, hiked FDI limit in insurance sector to 49 per cent and took steps to promote foreign capital inflow in defen
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Minister clarifies on RBI steps to contain rupee weakness
Finance Minister P Chidambaram clarified that the recent measures of Reserve Bank of India (RBI) to contain depreciation of rupee has nothing to do with upcoming monetary policy review on July 30. The central bank would release the first quarter monetary policy review 2013-14 on July 30. His clarification comes after analysts interpreted the RBI's recent move to raise interest rate on loan throu
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Karnataka aims to utilise idle airport infra in state
Karnataka Chief Minister Siddaramaiah has said that the State government is to give a fillip to tourism and improve the air transport network in the state. For this, it will announce a new minor airport policy this year. The policy will help in utilising the existing idle airport infrastructure in the state.
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Gujarat govt to announce slum rehab policy
Gujarat government has reportedly prepared the slum rehabilitation policy and may announce it at any time, reports indicate. It may be recalled that the state Chief Minister Narendra Modi pl
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PPP policy must aim to allot risks optimally
Experts feel that the objective of the public private partnership (PPP) policy of the government should be to share the project risks optimally, rather than transfer them wholesale to the private sector. Experts and policy makers are debating the fate of PPP projects in the country in the wake of some private contractors exiting key infrastructure contracts like metro rail, highway etc