CCS to clear FDI proposals in Railway
13/08/2014 15:20
Government has imposed certain restrictions on FDI in railways for projects in "sensitive areas" by stipulating that proposals seeking overseas investments beyond 49 per cent will be cleared by the Cabinet Committee on Security, reported PTI. Earlier this month, the Union Cabinet had cleared the long-delayed proposal for relaxing foreign direct investment (FDI) policy in the cash-starved Indian Railways. According to the sources, the Home Ministry had raised concerns with regard to rail infrastructure in border areas. To deal with all the security related issues in "sensitive areas" such as border and tribal areas, FDI proposals beyond 49 per cent will be cleared by the Cabinet Committee on Security (CCS). In all other areas such as high-speed train systems, suburban corridors and dedicated freight line projects, 100 per cent FDI is permitted through automatic route. However, FDI will not be allowed in train operations and safety.
13/08/2014 15:20
Government has imposed certain restrictions on FDI in railways for projects in "sensitive areas" by stipulating that proposals seeking overseas investments beyond 49 per cent will be cleared by the Cabinet Committee on Security, reported PTI. Earlier this month, the Union Cabinet had cleared the long-delayed proposal for relaxing foreign direct investment (FDI) policy in the cash-starved Indian Railways. According to the sources, the Home Ministry had raised concerns with regard to rail infrastructure in border areas. To deal with all the security related issues in "sensitive areas" such as border and tribal areas, FDI proposals beyond 49 per cent will be cleared by the Cabinet Committee on Security (CCS). In all other areas such as high-speed train systems, suburban corridors and dedicated freight line projects, 100 per cent FDI is permitted through automatic route. However, FDI will not be allowed in train operations and safety.
