MORE BANG FOR THE BUCK
ministry bureaucrats. Easing FDI across sectors and placing most sectors on the automatic route, it essentially means investors can skip the layers of India’s notoriously tardy bureaucracy if they want to invest in the country. It is targeted towards implementing the government’s promise of improving the ease of doing business in India, apart from giving infrastructure and rural economy a push.
“The decision is to encourage investment which will lead to job creation,” says Shaktikanta Das, secretary, department of economic affairs. “This is in sync with the government’s philosophy of minimum government and maximum governance.” The Modi government’s loudest bang was in defence. In July 2014, just two months after the government was sworn in, it increased FDI quotas in