The government decides to increase the limit of FDI percentage from 74 to 100 %.
But there was no decision on the investments in Civil aviation, Airport, Media and pharma.
The decision to expand the foreign investment under the chairmanship of prime minister Manmohan singh was taken during a cabinet meeting.
The ministers who attended the meeting were Finance minister P Chidambaram, Defense minister AK Antony, Commerce and Industry minister Anand Sharma and Telecom Minister Kapil Sibal.
Before govt of India taking decision of 100% investment in Telecommunication sector, the telecom commission approved 100% investment of FDI on July 2nd.
After the meeting Union Commerce & Industry minister Anand Sharma told PTI that the FDI limit in Insurance sector was increased to 49 Percent.
The government has made changes to the route of FDI in many sectors. Also, 49 pct FDI was permitted in the automatic route in few sectors like Petroleum and natural gas, Power exchange, Commodity exchange and Stock exchange.
Anand Sharma said due to the ever increasing demands from the foreign retail Government took decision to liberalize the FDI norms.
No decision was taken under Civil Aviation sector which is 49 pct of FDI.
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