The government wants to channelise the funds of NRIs, who now have set up large businesses abroad, by treating non-repatriable investments by NRIs as domestic investment.
A condition will be inserted to ensure that Chinese companies do not set up factories near the border areas or near sensitive installations.
RAI in its plea has claimed that while FDI was banned for e-commerce in the inventory model, an alternate route of “marketplace model” has been created which has nullified the government’s ban.
“If somebody asked me what is your view, I said BJP is never in favour of this,” said Arun Jaitley.
Even as the e-commerce segment rises in India, the sector has already run into trouble in a few states on the issues related to taxation.
The Congress, on the other hand, called the government’s decision to continue with the policy as the ‘height of hypocrisy’.
Until now, the Board had powers to recommend for investment approval of up to Rs1,200 crore.
SBI General Insurance has received commitment from its foreign partner Insurance Australia Group for additional FDI as a result of the Insurance Bill getting cleared by Parliament.
FDI into India through the approval route shot up 162 per cent to USD 1.91 billion in the first 10 months of the current fiscal…
Once again, he uses regressive language while claiming to speak for a progressive politics.
The NPS since its inception a decade ago has assets under management to the tune of Rs 78,921 crore.
Current foreign investment in the sector is close to Rs8,700 crore.
Rajya Sabha: Bill raising FDI cap from 26% to 49% passed
A reformist budget was tripped up by short-run pressures.
The Union Budget 2015-16 will also be known for implementing International Finance Centres in the Indian economy.