Union cabinet likely to allow FDI in construction sector | News On Project

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Published On:October 29 2014

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Union cabinet likely to allow FDI in construction sector

Union cabinet likely to allow FDI in construction sector

The union cabinet is likely to consider on Wednesday a proposal to liberalise foreign direct investment in construction sector.

The department of industrial policy and promotion (DIPP) has proposed substantial easing of norms for affordable housing and the 100 smart cities envisaged by the new government that took charge in May.

The proposal, if approved, will also help infuse more funds into the debt burdened sector and facilitate faster completion of projects.

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