Why is it in the news ?
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The Union Cabinet announced a number of decisions designed to attract increased foreign direct investment into in four sectors.
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These sectors includes digital media, coal mining, contract manufacturing and and single-brand retailers.
More in the news
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The measures are said to be taken to get economic growth back on track.
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Government approved foreign investment in digital media up to stakes of 26%.
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It allowed 100% foreign investment for coal mining and contract manufacturing.
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It eased sourcing norms for single-brand retailers.
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On FDI in single brand retailing, the Cabinet has expanded the definition of mandatory 30% domestic sourcing norm.
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It allowed single brand retailers to start online sales, waiving the previous condition of setting up a mandatory brick-and-mortar store.
Source
LiveMint.