In big-bang reform measures, Centre has decided to raise the limit for FDI for defence manufacturing from 49 to 74% under the automatic route and has also allowed commercial mining of coal, whereby any party can bid for coal block and sell it in the open market As Finance Minister Nirmala Sitharaman on Saturday announced a slew of reform measures for defence and coal mining among others, industry participants have come out applauding the government for the reform decisions, but many have also suggested that liquidity support is the need of the hour.
In a big-bang reform measure, the Centre decided to raise the limit for foreign direct investment (FDI) for defence manufacturing from 49 to 74 per cent under the automatic route.