How FDI in retail, aviation will boost India's growth

 

 

 Prime Minister Manmohan Singh will address the nation on Friday night to explain the government's recent decisions on economic reforms, which have triggered widespread political protests across the......

After quite a long pause the government has finally pressed the reforms button. Strengthening rupee and cheering capital market indicates that these steps have been received favourably.

The optimism is also in anticipation that this could the beginning of series of economic reforms which were on hold for a long time; nonetheless these steps are expected to revive the Indian economy in the long run.
The government recently announced 51% in Foreign Direct Investment (FDI) in multi-brand retail and 100% FDI in single-brand retail.

FDI norms in aviation sector also have been relaxed, which will now allow the foreign aviation firms to invest in Indian aviation sector.

The broadcasting sector has also been liberalized by allowing up to 74% FDI. Amid these reforms announcements, the government also decided to hike diesel prices by 12 per cent or Rs 5 per litre.