The Union Cabinet today relaxed Foreign Direct Investment (FDI) norms in several sectors.
-Cabinet approves 26% FDI with government approval for digital news media.
-Cabinet approves 100% FDI via automatic route for coal mining and ancillary activities.
-Cabinet eases local sourcing norms for FDI in single brand retail. Single-brand retailers allowed to open online stores before setting up brick-and-mortar shops.
-Cabinet approves 100% FDI in contract manufacturing.
-Cabinet approves export subsidy for 60 lakh metric tonne of sugar. To cost the exchequer Rs 6,268 crore. Subsidy to be directly transferred to the farmer's accounts.
-Government approves 75 new medical colleges with investment of Rs 24,375 crore over next 3 years. Could add 15,700 MBBS seats in the country.
-Cabinet approves forming an international coalition on disaster management infrastructure.
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