Explaining the decision Thursday, Nirmala Sitharaman said insurance companies are facing liquidity pressure and the higher limit would help meet the growing capital requirement.
Within the space of 48 hours, Modi projected himself as a strong leader who attacks the opposition with fury & a sensitive statesman moved to tears by compassion.
Whatever Meena Harris, Rihanna or Greta Thunberg may say, they are not coming here to fight on behalf of a weak and supine opposition. Modi knows that.
Finance Minister Nirmala Sitharaman proposed to amend the Insurance Act 1938 to allow this increase and allow foreign ownership and control with safeguards.
Plan to allow 100% foreign direct investment in animation, visual effects, gaming & comics sector could also find mention in Modi govt's budget to be presented on 1 Feb.
Europe fared worse, with flows down by two-thirds to a negative $4 billion. In the UK, foreign direct investment fell to zero, and declines were also recorded in other major countries.
In the first half of this fiscal, tech sectors attracted a bulk of the FDI, but govt is hopeful that some of its decisions will attract inflows into other sectors too.
Disenfranchisement by institutional fiat is profoundly undemocratic. The effect of the ECI's new documentary process in Bihar will tilt the scales in favour of the BJP.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
COMMENTS