July 16, 2015 3:39 PM

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Cabinet gives nod to foreign investment composite cap

In a bid to streamline the FDI structure, the government today introduced a composite foreign investment cap by clubbing all forms of overseas investments to define sectoral limits. Briefing reporters after the Cabinet meeting, Finance Minister Arun Jaitley said that from now onwards, all FIIs, NRIs and other foreign investments, will be clubbed to be constituted as a composite cap.The proposal is aimed at simplification of FDI policy with a view to attract foreign investments and also improving ease of doing business in India. Under the existing policy, there are different caps for separate investment categories like FDI, FII and NRIs.

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