Govt clears FDI in multi-brand retail

In a major reform drive and signalling that it is shrugging off its policy paralysis, the government has pushed through the move that will allow 51% foreign direct investment in multi-brand retail. It has also relaxed norms for foreign direct investment in the aviation sector, allowing international airlines to invest in domestic peers and cleared a slew of other reform-oriented measures - an increase of foreign direct investment in some broadcasting services from 49% to 75% and disinvestment in four key profit-making public sector units (PSUs).