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| Name | Budget 2024: Govt To Relax FDI Norms? | India Economy News | News9 Live |
| Video Uploader | Video From NEWS9 Live |
| Upload Date | This Video Uploaded At 05-07-2024 12:58:55 |
| Video Discription | The 2024 Budget which will be the first under Modi 3.0 government is the most sought-after economic event that the country is now looking forward to. Industry experts are predicting a range of populist initiatives, including income tax reforms and substantial financial support for key sectors such as infrastructure, railways, and defense. Apart from all of that...one important area of concern is surely Foreign Direct Invest or FDI. The government may ease FDI norms to counter a decline in FDI inflows over the recent years. FDI inflows in India fell by 3.49% in FY24 to $44.42 billion, following a 22% decline in FY23. This drop is attributed to reduced investments in services, computer hardware and software, telecom, auto, and pharma sectors. To rejuvenate FDI, the government might raise or eliminate equity limits and streamline conditions. Currently, FDI is allowed through the Automatic Route, which requires no government approval, or the Government Route, which does. Some sectors have FDI caps, like private banks at 74% and public sector banks at 20%. Revising these limits could attract more foreign investments, boost economic growth, enhance technology transfer, and create jobs. However, it may also raise concerns about unfair competition and control over strategic industries. Two prominent areas where further FDI liberalisation is being called for are multi-brand retail and e-commerce. stringent conditions still hamper FDI in multi-brand retail, despite a 51% allowance since 2012. Other areas that can be considered is civil aviation where FDI is capped at 49% and government approval is required for holdings in airlines operating scheduled and non-scheduled air transport services. FDI norms have also been due for liberalisation for long in Print media, broadcast services and even in some areas of agriculture like cultivation of vegetables. The government may also consider further visa liberalisation for Chinese technicians and experts. While the visa norms for skilled Chinese workers have already been made less restrictive for the firms that signed up for production-linked incentives (PLI) in 14 odd sectors, other companies present in these “PLI sectors” may also be given a similar dispensation soon. Recently, the government has been easing FDI policies, offering lower import tariffs for electric vehicle (EV) manufacturers under certain conditions and allowing 100% FDI in satellite component manufacturing. And the upcoming budget could bring significant changes to India's FDI landscape, potentially boosting investment and economic growth. .............................................................................................. News9 is India's first fully integrated English news brand across all digital platforms. It includes a publishing platform, viz. www.news9live.com, a future-ready OTT platform, News9 Plus, and a 24-Hour video streaming service on connected TVs and all social platforms. It's the English news brand that understands and fits perfectly into the digital-first lifestyles of our English news audiences. ► News9 Plus App : https://onelink.to/8pwfkc ► News9 OTT Coupons : https://bit.ly/4dwLDx4 ► Watch us on YouTube : https://www.youtube.com/c/NEWS9LIVE ► Like us on Facebook : https://www.facebook.com/news9live ► Follow us on Instagram : https://www.instagram.com/news9live ► Follow us on Twitter : https://twitter.com/NEWS9TWEETS bFEoGQSR2Rg |
| Category | News & Politics |
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