FDI in insurance, pension approved: The cabinet approved bills for foreign investment in insurance and pensions on Thursday in its latest move to restore confidence in the flagging economy. According to the bill, the cap on foreign money in insurance companies would rise to 49 percent. However, the reforms will face a tough fight in Parliament when the bills are presented during the winter session.
Amendments to Companies Bill: The government has finally managed to break a legislation deadlock and introduce changes in the Companies Bill. Amendments pending for approval for two decades have received the cabinet
FCRA Bill gets cabinet nod: In an effort to boost the commodity markets, the government has approved the FCRA Bill that seeks to provide more powers to the sectoral regulator Forward Markets Commission (FMC).
12th Five-Year Plan approved: The 12th Five-Year Plan (2012-17) which aims at achieving annual average economic growth rate of 8.2 percent was approved by the government today.
KFA crisis: The troubles of Vijay Mallya’s Kingfisher Airlines fail to subside. Pilots and engineers have been on intermittent strikes over the past few months over non-payment of salaries. The company was finally forced to ground flights from October 1 and its partial lockout has now been extended till October 12.
Manufacturing PMI at 52.8 in Sept: India's manufacturing growth in September held steady compared to August. The HSBC manufacturing purchasing managers' index (PMI), which gauges the business activity of India's factories but not its utilities, was at 52.8 in September from 52.8 in August, which was a nine-month low.