At present, a project with investment of more than Rs 600 crore in sectors routed through the Foreign Investment Promotion Board has to be referred to the Cabinet Committee on Economic Affairs.
Mandatory pvt participation, annual tariff hikes, conforming to FRBM limits seen difficult.
The decision to partially decontrol the sugar sector, the only industry left under the government control, was taken by the Cabinet Committee on Economic Affairs Thursday.
With a spate of clearances, including relief to companies facing delays in development of coal mines, the government is getting its act together.
With a clear eye on the coming Lok Sabha elections, the United Progressive Alliance government on Thursday showered a bonanza of projects and schemes that are impossible to be completed during its remaining life span of another 100 days, with many projects set to be achieved only by 2012 when the 11th Plan ends.
India's foreign investment panel has approved Swedish retailer IKEA's Rs 10,000 crore plan to set up shop in the country, the trade minister said.
"The prime minister asked the ministers to stay alert on the global financial situation," Rural Development Minister Raghuvansh Prasad Singh told reporters after a meeting of the Cabinet Committee on Economic Affairs.
The government on Thursday decided to sell 10 per cent shares in Nalco and Neyveli Lignite Corporation.
So far, 254 blocks of oil and gas have been auctioned.
The decision is expected to provide a push for their development in healthcare, cultural identity, education, financial matters, skill development and women empowerment among others, the Chief Minister's Office said in a statement.
Foreign airlines can now pick up 49 per cent stake in India's domestic carriers, a step that is expected to give a boost to cash-strapped aviation industry.
The much-awaited special purpose vehicle for funding infrastructure projects is all set to take off by next month with the Prime Minister's Committee on Infrastructure giving it a green signal.
The Union cabinet on Wednesday approved the construction of National War Memorial and Museum near the famed India Gate in New Delhi.
With India joining the project, it would be called TAPI (Turkmenistan-Afghanistan-Pakistan-India) pipeline.
The scheme is expected to activate the measures announced for the housing construction sector under the economic stimulus packages. It will increase the stock of houses ranging from 300 sq ft to 1,200 sq ft plinth area built at affordable rates on land provided by state governments.
Gas price hike seems to be a distant dream for Reliance Industries and its partners--Niko Resources and BP.
This will enable security agencies to tap any call, real-time chat and data without help from the operators.
The reconstituted Group of Ministers on the Bhopal gas tragedy will meet on Friday, Home Minister P Chidambaram said on Tuesday, a day after Prime Minister Manmohan Singh asked the panel to submit its report to the Cabinet in 10 days.
The commerce ministry is preparing a note for the Cabinet proposing further relief for the rupee-hit exporters, especially those in the job-oriented textiles and leather sectors. The package is likely to be cleared by Commerce Minister Kamal Nath on Tuesday before it goes to the Cabinet Committee on Economic Affairs later this week, he said.
A meeting of the CCEA is likely to be held next week.
How the first FDI in aviation was achieved.
It is more than certain that coal supply is a major constraint on power production; and power is a major constraint on industrial growth.
Announcing the decision after the meeting of the Cabinet Committee on Economic Affairs, Finance Minister P Chiadambaram said this is an ad-hoc measure and the recommendation of Commission for Agricultural Costs and Prices has been referred to the Prime Minister's Economic Advisory Council. The CACP had recommended the paddy MSP at Rs 1,000 per quintal for 2008-09 Kharif season.
The Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a slew of social sector initiatives, including treating the backlog of reserved vacancies of other backward classes (OBCs) as a distinct group not subject to the limit of 50 per cent reservation in a year.
Around 27 Indian IT firms, including majors like Tata Consultancy Services (TCS), Infosys Technologies and Wipro Ltd, are understood to have submitted their expressions of interest (EoIs) to develop a technology platform for the Centre's Crime and Criminal Tracking Networks and Systems (CCTNS) project.
The Cabinet Committee on Economic Affairs on Wednesday deferred a decision on the package on pricing and distribution of sensitive petroleum products.
The government on Friday approved sale of its minority stakes in four public sector firms -- Hindustan Copper, Oil India, MMTC and Nalco-- to raise up to Rs 15,000 crore.
The government is expected to take a decision tomorrow on the issue of allowing foreign airlines to buy up to 49 per cent stake in cash-starved Indian carriers.
Admitting that prices of sugar, pulses and vegetables are rising, the government today said it is planning to increase the subsidy for distribution of pulses through ration shops to provide relief to the common man.
Aiming at bolstering the sagging economy as well as providing housing to all, the urban poor will get 5 per cent interest subsidy for home loans up to Rs 100,000, taken during the Eleventh Plan period.
According to a decision taken by the Cabinet Committee on Economic Affairs, the Commission on Agricultural Costs and Prices will consider the above elements while recommending the MSP. The CACP, an advisory body under the agriculture ministry, recommends MSPs of over 20 crops, including wheat and rice.
The government on Friday approved the acquisition of drug company Ranbaxy Laboratories by Japanese pharma major Daiichi Sankyo envisaging foreign investment of around Rs 21,500 crore (Rs 215 billion).
The new credit-linked subsidy programme, called Prime Minister's Employment Generation Programme, was approved at a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Manmohan Singh. The financial implication of the new scheme, to be implemented over a four-year period, is estimated at Rs 4,485 crore (Rs 44.85 billion), Finance Minister P Chidambaram told reporters.
State-run Power Finance Corporation (PFC) on Thursday said it has appointed four merchant bankers - Goldman Sachs, JM Financial, DSP Merill Lynch and ICICI Securities - to manage the Rs 5,600 crore (Rs 56 billion) follow-on public offer.
The airline intends to raise the money to meet its cash flow requirements and had got the shareholders' approval for the same on July 24.
FDI in real estate will now be through the automatic route and not through the Foreign Investment Promotion Board.
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