Sunday, October 25, 1998
Prime minister puts reforms on fast track
Prime minister Atal Behari Vajpayee on Saturday unveiled a fresh package of economic reforms aimed at reviving the sagging capital market and stepping up investment in the infrastructure sector. Vajpayee said the government has decided to allow buyback of shares and do away with statutory approvals for inter-corporate investment.
CII charts out action plan to speed up implementation of core projects
The Confederation of Indian Industry (CII) has presented a seven-point action plan to the government for speeding up implementation of infrastructure projects at the end of its three-day seminar on infrastructure.
NRIs may get 14% in insurance plans
The government is likely to allow non-resident Indians (NRIs) 14% equity participation in the insurance sector, while permitting 26% investment by foreign institutions, industry minister Sikandar Bakht said.
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