NEW DELHI : The Union Cabinet may consider allowing foreign direct investment in railways and relaxing FDI rules for construction sector despite the model code of conduct being in effect, Commerce and Industry Minister Anand Sharma said.
“Final decision will be taken by the Cabinet (FDI in railways and construction) and of course it will get reflected. Whatever is decided, will get reflected in the updated FDI policy,” Sharma said. He said the Union Cabinet has still not met to decide on these two proposals. “Once the Cabinet meeting is fixed, and the agenda comes, you will get to know,” Sharma said. The updated FDI policy covering all major policy decisions in 2013-14 will be finalised by month-end. The DIPP has proposed to allow 100% FDI in high-speed train systems, suburban corridors, and high-speed tracks. -Cogencis