The Union Government Wednesday has approved 100 per cent Foreign Direct Investment (FDI) in coal mining under the automatic route. Several other sectors also saw relaxations including single-brand retail, digital media and contract manufacturing to invite overseas players.
The announcements came following a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.
Speaking over digital media, the Information and Broadcasting Minister Prakash Javadekar said the cabinet has approved a 26 per cent FDI in the sector.
Besides, the government announced the starting of 75 new medical colleges in the country. The new medical colleges will be started in unreserved districts and built on an expenditure of Rs 24,375 crore while adding 15,700 MBBS seats. This, Javadekar said, was the largest expansion in the medical education.
Further, the government has cleared Rs 6,268 crore subsidy for sugar export. The subsidy will go directly to farmers, said the I&B Minister.
Other than these, the cabinet announced setting up of an International Coalition for Disaster Resilient Infrastructure (CDRI), said Javadekar.
The prime minister will be launching CDRI during the UN Climate Summit in New York on September 23, 2019, he added.