close-button

Sign in

Forgot Password?



Not signed up yet? Sign up now

close-button

Sign up for new account

IBPS Bank PO and Clerk Exam Preparation
IBPS SO
IBPS Bank PO and Clerk Exam Preparation
IBPS PO
IBPS Bank PO and Clerk Exam Preparation
IBPS Clerk
IBPS Bank PO and Clerk Exam Preparation
GMAT
IBPS Bank PO and Clerk Exam Preparation
SSC CGL-1
Railways (RRB) Preparation
Railway(RRB)


Already a member? Sign in now

close button

Forgot Password?



Remember your password? Sign in now

 

Economy News-Daily Digest: 3 Key Updates

In FDI push, Centre allows 49% foreign ownership in AI

1. In FDI push, Centre allows 49% foreign ownership in AI

The Centre eased several foreign direct investment norms, including allowing overseas airlines to own up to 49% of Air India and permitting 100% FDI in single brand retail and construction development under the automatic route.As per the present policy, foreign airlines are allowed to invest under the government approval route in the capital of Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49% of their paid-up capital.
However, this provision was not applicable to Air India. The government, therefore, decided to do away with this restriction.
Now Air India is on a par with other Indian airline operators with respect to FDI norms.

2. Centre opens arms to single brand retail FDI

The Union government liberalised and simplified the Foreign Direct Investment (FDI) regime in a host of sectors, including Single Brand Retail Trading (SBRT) and construction development.
The Union Cabinet gave its approval to a proposal permitting 100% FDI under the automatic route for SBRT.
The Centre also eased ‘sourcing norms’ in SBRT by permitting companies to set off their incremental sourcing of goods from India for global operations in the initial five years- beginning April 1 of the year of the opening of the firm’s first store- against the mandatory sourcing requirement of 30% of purchases from India.
After the completion of the five-year period, SBRT entities would be required to meet the 30% sourcing norms directly towards its India’s operation, on an annual basis.

3. Ministry of Railway launches Smart Freight Operation Optimisation & Real Time Information (SFOORTI) Application.

In a major digital initiative to help plan the traffic flows and optimize freight operations, Ministry of Railways have launched Smart Freight Operation Optimisation & Real Time Information (SFOORTI) App for Freight Managers which provides features for monitoring and managing freight business using Geographic Information System (GIS) Views and Dashboard.

Comment Here

Leave a Reply

Download our Android app to Study Anywhere, Anytime

Studycopter's Android App is used by thousands of users to practice & study for IBPS prelim and mains exams for PO, Clerk, and SO. Get it now to get a top IBPS exam score

TeacherDownload

Like our Facebook page to get exam updates, current affairs, exam tips etc.

Teacher