PM to chair full Planning Commission meeting

November 14th, 2007 - 10:15 am ICT by admin  
In the draft Eleventh Plan, the Planning Commission lays down guidelines to ensure efficient and timely implementation of the accompanying projects and programmes.

Further, it disaggregates these targets at the level of States, as they are the implementing agencies.

The proposed Plan recommends to relax Foreign Direct Investment (FDI) norms in key sectors like insurance, private banking, single brand retailing and broadcasting.

Presently, the FDI in insurance sector is capped at 26 per cent, while it is at 51 per cent in single brand retailing.

Sectors like air transport, asset reconstruction firms and cable network are allowed FDI up to 49 per cent.

In the case of FM radio broadcasting, 20 per cent FDI is allowed and it is 26 percent in defence production and print and electronic media.

The draft also suggests that while containing the trade liberalisation, the government should take steps to consolidate the gains from FDI by reducing delays in State level clearances. (ANI)

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