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Wednesday, August 28, 2019

Modi cabinet's decision: Single brand retail will be easy, FDI allowed in digital media too

Modi cabinet's decision: Single brand retail will be easy, FDI allowed in digital media too

FDI of 100% has also been allowed in coal mining, its sale and related works like transportation of coal etc.

Special things

  1. Cabinet meeting chaired by PM Narendra Modi
  2. Several decisions were taken to get the country out of recession
  3. 100% FDI approved in contract manufacturing

The central government will allow 100 percent FDI for coal mining and its sale. Also, 100 percent FDI will be allowed in its related works, such as transportation of coal, etc. This information was given by Railway and Commerce Minister Piyush Goyal after the Modi government's cabinet meeting on Wednesday. In a press conference after the cabinet meeting chaired by Prime Minister Narendra Modi, Piyush Goyal said that the first change, 100 percent FDI has been approved in contract manufacturing. Now people from outside can come to India and make their goods. He said that the cabinet has approved 26 percent FDI in digital media with the approval of the government. He informed that the cabinet has decided to simplify the rules for 30 percent local sourcing in the single brand retail sector.

Piyush Goyal said that FDI worth $ 286 billion has come to India. Companies want to make India a manufacturing unit, but there were some difficulties in the law, which has been liberalized a lot today. This will bring huge amount of investment from abroad. This will also increase economic progress. Also, youths will get employment in a big way.

Union Minister Prakash Javadekar (Prakash Javadekar) told in the press conference that the proposal to open 75 new medical colleges has been approved. 24 thousand crore rupees will be spent on this. With this decision, 15 thousand 700 new medical seats will be created. Union Minister Prakash Javadekar told that all these medical colleges will be built there, districts which do not have medical colleges. He said that in the last five years, 45 thousand seats have been increased by MBBS and PG together, and 82 and 75 new colleges have been approved in the last five years. So far, such a big decision has not been made for medical education. This decision of the government will increase the availability of doctors in rural areas. This will become a major achievement of the Modi government.

Javadekar said that it was also decided to give export subsidy to sugarcane farmers for exporting 60 lakh metric tons of sugar. 6268 crore will be spent on this. This money will go directly to the account of the farmer. This will also reduce the losses of farmers. Millions of farmers will benefit from this. At the same time, a decision has also been taken for the International Coalition for Disaster Resilient Infrastructure. Capacity building and exchange of information is essential. PM will launch this scheme by going to UN.


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