RESIST FASCIST TERROR IN WB BY TMC-MAOIST-POLICE-MEDIA NEXUS

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Monday, November 23, 2015

THE Centre of Indian Trade Unions in a statement issued on November 12 has denounced the reckless moves of the Narendra Modi government in liberalising foreign direct investment in numerous sectors of the economy including core and strategic sectors of economy, much to the detriment of national interests. Strategic sectors like defence (49 percent), airlines (49 percent), banking (74 percent for both FDI and FII) and media & broadcasting(100 percent) are being opened up to FDI through automatic approval route. FDI in single brand retail, construction, plantations etc will also be allowed through automatic approval route. FDI cap has been liberally increased from 74 percent to 100 percent for several sectors including non-scheduled air-transport service, ground handling, credit-info firms and satellites. Along with allowing 74 percent FDI in banking sector, the limits on the portfolio investors in the sector have also been eased up. Also notable is the hike in FDI to 49 percent in news channel and radio and 100 percent in DTH, cable networks, mobIle TV and teleports which will lead to near total control of media sector by foreign monopolies. FDI with automatic approval will now be allowed to 32 new investment areas covering crucial and strategically important sectors of the national economy. Cap for approval of foreign investment has been liberally raised from existing Rs 3000 crore to Rs 5000 crore.

CITU Denounces Further Opening of FDI | Peoples Democracy



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