Industry & Economy
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Foreign Direct Investment
Govt likely to take up FDI reforms after Budget
Our Bureau
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New Delhi
Feb. 2
The Government is planning to go in for big-ticket reforms in the foreign direct investment regime after the Budget. According to available indications, the Cabinet is likely to take a final call on FDI reforms sometime in March for which the Department of Industrial Policy and Promotion is in the process of preparing a Cabinet note, sources said.
Earlier, the Minister for Industry and Commerce had said that the Prime Minister has asked his Ministry to prepare a comprehensive note on this purpose.
The proposals likely to be taken up include allowing FDI in commodity exchanges, increase FDI limit in asset reconstruction companies and higher voting rights for foreign investors in the banking sector. It may also suggest dilution of clause regarding the mandatory disinvestments of 26 per cent stake in favour of Indian investors within a period of five years in the petroleum sector.
In case of aviation, there may be a proposal to set up a separate head of air traffic services and defining air traffic services separately. The Cabinet note is also likely to propose allowing FDI in multi-brand retail.
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