Govt to Reform FDI

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New Delhi: The government is set to announce foreign direct investment or FDI measures in 15 sectors in a major reforms push one day before Diwali and two days after the ruling BJP suffered a crushing defeat in the Bihar assembly elections, sources said.

The announcement also comes a day before PM Modi leaves for his first visit to the United Kingdom, focused predominantly on business and investment. Amitabh Kant, secretary in the Department of Industrial Policy and Promotion (DIPP), is expected to make the announcement this evening.

The move comes amid fears of a further slowdown in economic reforms after the BJP was soundly defeated in Bihar by the Nitish Kumar-led Grand Alliance.

The FDI move today is also seen as aimed at sending out the message that the government continues to be focused on the economy and counter the criticism that PM Modi’s Bihar campaign deviated from his development agenda.

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