Diwali gift by our beloved PM....Government is going to issue an Ordinance today for 100% FDI on Rail Defence,Insurance and others......shame shame

Diwali gift by our beloved PM....Government is going to 

issue an Ordinance today for 100% FDI on Rail 

Defence,Insurance and others......shame shame

India eased foreign direct investment norms in 15 major sectors, including mining, defence, civil aviation and broadcasting, the government said on Tuesday in a bid to drum up investment and speed up growth.

The government also increased the financial power of the Foreign Investment Promotion Board (FIPB) to give single window clearance for investment projects up to Rs5,000 crore ($753.35 million) from Rs3,000 crore.

“The crux of these reforms is to further ease, rationalise and simplify the process of foreign investments into the country and to put more and more FDI proposals on automatic route instead of government route where time and energy of the investors are wasted,” the government said in a statement.

According a release by the Ministry of Commerce and Industry, these measures will encompass the following:

i. Limited Liability Partnerships, downstream investment and approval conditions.

ii. Investment by companies owned and controlled by Non-Resident Indians (NRIs)

iii. Establishment and transfer of ownership and control of Indian companies

iv. Agriculture and Animal Husbandry

v. Plantation

vi. Mining and mineral separation of titanium bearing minerals and ores, its value addition and integrated activities

vii. Defence

viii. Broadcasting Sector

ix. Civil Aviation

x. Increase of sectoral cap

xi. Construction development sector

xii. Cash and Carry Wholesale Trading / Wholesale Trading (including sourcing from MSEs)

xiii. Single Brand Retail Trading and Duty free shops

xiv. Banking-Private Sector; and

xv. Manufacturing Sector