NEW DELHI : The Union Cabinet is likely to consider proposals of Ministry of Commerce and Industry for easing foreign direct investment norms, Commerce and Industry Minister Anand Sharma said.

“In all likelihood, it has to be there in Cabinet tomorrow (Wednesday). As of now, there is no listed agenda,” Sharma told Cogencis. However, official sources said the Cabinet meeting could be on Thursday and not Wednesday.

Sharma said that his ministry and concerned departments have cleared the Cabinet notes for opening up railway sector for foreign direct investment and liberalising norms for construction sector. “All the concerned stakeholders, including the ministry of railways are on board. I hope that this will happen soon…I hope it is listed on the agenda. There is no reason that there should be any hurdle. Once it is listed, it will be through,” the minister said at a press conference.

Sharma said that his ministry is looking at further liberalising investments in construction sector.

Next Cabinet meeting is likely to be last chance for the government to take policy decisions before the model code of conduct comes into effect. The Election Commission is likely to announce schedule for the Lok Sabha elections this week. The model code of conduct will come into effect once the poll schedule is announced.   -Cogencis

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