Embassy's Weekly e-Bulletin on Key Policy Decisions and High Impact News

Welcome to the May 31, 2017 bulletin of key policy decisions and high-impact news, presented by the Embassy of India, Washington DC.

                                 KEY POLICY DECISIONS
                                

Govt. Procurement Policy to Support Make-in-India

Striking the right balance between Make-in-India and value-for-money objectives, the Government has approved a new policy that lays down a 20 percent limit for domestic manufacturers to match the lowest bid in procurement offers issued by Government agencies.

Phasing-Out of Foreign Investment Board OK'd

The Government has approved the phasing-out of the Foreign Investment Promotion Board as announced in the Union Budget 2017-18. Foreign direct investment proposals that need Government approval will now be processed by the respective administrative Ministries.

More Funding for National Waterways

The Government has approved a measure that would allocate 2.5 percent of the Central Road Fund for development of National Waterways in the country. The move is likely to yield $300 million for the development of inland waterways each year.

Govt. OKs $350 Million in Bonds for Renewable Energy