The government has announced reforms in foreign direct investment in India, including 100% FDI under automatic route in coal mining and contract manufacturing. The centre has also approved 26% overseas investment in digital media and relaxed FDI norms for single brand retailers.
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Rajnath Singh is now a part of six of the eight cabinet committees announced after Prime Minister Narendra Modi started a second term, including the one on political affairs.
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The Reserve Bank of India cut interest rates for the third time in the last six months, by 25 basis points to their lowest level in nine years which may lead to lower home, auto and other loan EMIs.
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With rising unemployment and haunting economic growth, Prime Minister Narendra Modi, on Wednesday, constituted two new Cabinet committees under his chairmanship to spur the country’s economic growth and investment and employment.
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