Union Budget 2016: Proposed reforms in FDI policy
He said 100% FDI is to be allowed through Foreign Investment Promotion Board (FIPB) route in marking of food products produced and manufactured in India, which will benefit farmers, give impetus to food processing industry and create vast employment opportunities.
The finance minister also said that to promote private participation in infrastructure projects, Public Utility (Resolution of Disputes) Bill will be introduced; and guidelines for renegotiation of PPP agreements will be issued, without compromising transparency.
New credit rating system for infrastructure projects will also be introduced.
He further said that guidelines for strategic disinvestment have been approved and will be spelt out.
Individual units of Central Public Sector Enterprises (CPSEs) can be dis-invested to raise resources for investment in new projects.
He said, "We will encourage CPSEs to divest individual assets like land, manufacturing units, etc. to release their assets value for making investment in new projects. The NITI Aayog will identify the CPSEs for strategic sale."
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