Zee Media Bureau
New Delhi: Prime Minister Narendra Modi is expected to unveil his top 10 policy priorities on Thursday, seeking to unblock an investment logjam and setting deadlines for action in order to revive the economy.
In order to bring back investors confidence, the finance ministry may allow further liberalisation in foreign investment policy by allowing 49 percent FDI (foreign direct investment) in most of the sectors. Also, the government might adopt an automatic route for the minimum 49% FDI, as per various media reports.
It is expected that key sectors such as railways, e-commerce, media and defence might be benefited with FDI Iiberalisation. The new government could also see a way to settle the issue of FDI in multi-brand retail, which did not go down quite well, as the party had opposed this in its Election Manifesto.
The finance ministry may also propose a simplification of policy that will end the differentiation in various form of investment and sectors.
Modi`s policy priorities may necessarily have to be implemented in a time-bound manner.
The Prime Minister`s Office is expected to become a powerful centre of policy making under Modi, who has named loyalists such as Arun Jaitley to key posts like finance but whose cabinet team lacks strength in depth.
With agency inputs
