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The Big Bang Friday Reforms

FOREIGN DIRECT INVESTMENT IN RETAIL SECTOR The 51% BIG BANG FRIDAY 100% On September 14, Manmohan IN SINGLE-BRAND RETAIL IN MULTI-BRAND RETAIL Singh, the Prime Minster of India The foreign investor should now have legal rights over brand through franchise or associate. Limited to willing States. For stores in cities with population of 1 mill or more. initiated a slew 50% investment to be made in 3 years in backend infrastructure. 30% mandatory procurement from small and medium enterprises. of reforms. Instead of 30% mandatory sourcing from small or micro business it should be from Indian firms preferably from small and micro firms. Here is the glimpse... 49% FDI BY FOREIGN AIRLINES IN INDIAN CARRIERS, IS ALLOWED CEO and two-thirds of the board of directors of the Indian airline should be Indians and control of the airlines must be on Indian hands. 49% FDI IS ALLOWED IN POWER TRADING THE GOVERNMENT PLANS A SLEW OF PRIVATISATION, Direct Investment by foreign power exchanges or firms will be limited to 26% and the institutional investments will be limited to 23%. SELLING OFF GOVERNMENT-OWNED CHUNKS OF EQUITY IN HINDUSTAN COPPER, IN OIL INDIA, NALCO AND MMTC. FDI IN BROADCASTING RAISED TO 74 % FDI in TV news channels and FM radio will contue to be capped at 26%. THE GOVERNMENT RAISED THE PRICE OF HEAVILY SUBSIDISED DIESEL, INCREASING PRICES BY FIVE RUPEES PER LITRE. That translates as a 14 percent rise, including taxes.. THE NUMBER OF SUBSIDISED COOKING GAS CYLINDERS PER HOUSEHOLD WILL BE SIX PER YEAR. ANY LPG CYLINDERS BOUGHT OVER THIS CEILING WILL BE AT MARKET RATES, WHICH COULD ALMOST DOUBLE THE PRICE.

The Big Bang Friday Reforms

shared by ubiqdesigns on Sep 20
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On September 14 , Manmohan Singh, the Prime Minster of India, initiated a slew of reforms for the Indian Economy such as allowing FDI in retail, fuel price hikes etc. Previously, to be able to get f...

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Barnali

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Economy
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