After the big news about RBI Governor leaving his post in September and a setback, the Government is taking all the measures to keep the economy aloft with various constructive steps. In all nine FDI doors flung open and that include aviation, defence, single-brand retail among key sectors opened up in a bold and purposeful move. The condition of access to state-of the-art technology has been done away with. FDI limit also applicable to manufacturing of small arms and ammunition. Among other decisions, 100 per cent FDI has been permitted in teleports, direct-to-home cable networks and mobile TV under automatic route. The relaxation in norms which was the pride of our Prime Minister, made India, the most open economy in the world for FDI came two days after Reserve Bank of India’s Governor Raghuram Rajan announced he will not be serving a second term. Thus the caps have been raised and the terms eased out for an economic upheaval.
Jayanthy Mani
(The views expressed by the author in the article are his/her own.)
