- People stop taking calls if you deliver a flop: Abhishek BachchanChinkara poaching case: Salman thanks fans for prayers, supportAkshay had a ball shooting cameo for 'Dishoom'Iulia Vantur celebrated birthday with Salman KhanICW 2016: Rohit Bal adds Russian touch to India fashionB-Town hails Salman's acquittal in poaching casesKangana turns Mughal empress for at the FDCI India Couture Week 2016Why not: Kangana on getting married more than once'Madaari': A heartbreaking wake-up callVijay Raaz did 'Mission Tiger' for free
Wonder marathon boy Budhia Singh on Friday informed the Child Welfare Committee (CWC) at K
Cabinet set to clear FDI in pensions and insurance Last Updated : 04 Oct 2012 11:00:21 AM IST File Photo
Riding high on slew of economic reforms, the Union Cabinet is set for second push of reform measures on Thursday.
The Cabinet is expected to approve 26 per cent FDI in pensions and 49 per cent in Insurance sector.
At present, no foreign investment is allowed in the pension sector and only 26 per cent FDI is allowed in insurance.
However, the move on FDI in pension will need Parliamentary ratification as insurance is governed by an act of law and is not an executive domain.
The Cabinet is also likely to approve the Pharma pricing policy, despite drug experts alleging that there are major loopholes in the pricing of drugs.
The Cabinet will also consider the Forward Contract Regulation Act (Amendment) Bill to empower commodity markets regulator FMC with greater financial autonomy, facilitate the entry of institutional investors and introduce new products for trading such as options and indices.
It will also take up the Companies Bill to bring all sectors under the Companies Act, amendment to the Competition Act and a proposal for operationalising the Infrastructure Development Fund (IDF), sources said.
A proposal to set up a National Investment Board (NIB), to be headed by Prime Minister Manmohan Singh, for according fast-track clearances to infrastructure projects will also be taken up at the meeting. The government intends to send out a strong signal to foreign investors and to the domestic constituencies that it is very serious about reforms.
This is the second wave of reforms decisions to be undertaken by the government within a month. On September 13, the government had approved the decision of allowing 51 per cent FDI in multi-brand retail, besides relaxing FDI norms for civil aviation and broadcasting sector. The decision on FDI in retail triggered a major uproar, with some allies and opposition parties launching a massive attack on the government. Trinamool Congress even withdrew support to the government.
Source: IANS, Other Agencies, Staff Reporters
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
Film: The BFG; Director: Steven Spielberg; Cast: Mark Rylance, Ruby Barnhill, Penelope Wil
- Pratyusha case: Parents allege bias in police probe
- B-Town supports Dia's directorial debut
- Bollywood is on Mr. World's wish list
- Mahesh Babu's next starts rolling
- Streep in talks for 'Mary Poppins' sequel
- Sanjay Dutt, Mahesh Manjrekar to again team up for 'De Dhakka' remake
- 'Jagga Jasoos' will work irrespective of delay if made well: Basu
- Don't want to be known as Dalit filmmaker: 'Kabali' director
The lightning scar of Harry Potter is the most recognisable symbol of the character from t
Route Mobile Limited, a messaging and voice API company, on Thursday announced it has acqu