FDI in single-brand retail raised from 51 to 100%   In a bid to remove the impression that UPA-II is suffering from a “decision making paralysis” and kicking off the second generation reforms, the Union Cabinet on Thursday gave its approval for 51 per cent foreign direct investment (FDI) in multi-brand retail and 100 per cent FDI in single-brand retail. The decision is likely to clear the decks for the entry of foreign...

-The Times of India   After debating the issue for over a decade, the government on Thursday threw open the multi-brand retail segment to foreign chains such as Wal-Mart, Carrefour and others in a move to attract overseas investment and dispel doubts about the coalition's ability to push through big-bang reforms.  After nearly two hours of discussion on Thursday evening, the Union Cabinet decided to allow foreign retailers to hold 51% stake in...

-PTI Planning Commission deputy chairman Montek Singh Ahluwalia on Sunday conceded that he went wrong while projecting moderation in inflation which remains near the double-digit mark. "It is true that we were hoping that this (moderation in inflation) will happen earlier, to that extent our credibility becomes a question," he told in a interview for CNN-IBN's TV programme 'Devil's Advocate' when asked why government's repeated projections on inflation proved false. "You should recognise...

-The Indian Express   The finance ministry has come to an agreement with the department of industrial policy and promotion about what the government’s policy towards foreign direct investment in retail should look like. This means the retail FDI proposal will be placed before the cabinet soon, and hopefully will be cleared as soon as possible. Currently, only 51 per cent foreign investment is permitted, and only in stores selling a single...

Till Tuesday, Jayanti Patel, 46, was farming to earn a living, having secured bail. On Wednesday, he worried not only about his mother, wife and children but also about his father, elderly and ailing, who has been sentenced to life with him. Jayanti and his his father Mangal Patel, a paralytic, are among the 31 sentenced to life. So were at least three of their relatives, Amrat Somabhai, Bhikha Joitabhai and...