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FDI in railways and defence draws mixed reactions

New Delhi, Aug 07 (ANI): Expert and political leaders on Thursday said that central government's move to allow foreign direct investment (FDI) in railways and defence sectors would not give private sector much control, adding it was not fit for citizens of the country. The cabinet approved a plan to raise the amount of FDI allowed in its defence and railways industries, part of Prime Minister Narendra Modi's efforts to attract more foreign cash and revive the economy. The government is to increase the foreign investment limit in the defence industry to 49 percent from 26 percent. Defence expert, Commodore (retired) Uday Bhaskar, said with 49 percent, bigger companies won't get much control. Meanwhile, BSP chief Mayawati, said the BJP should hold a discussion on the matter. Senior CPI (M) leader Sitaram Yechury, said the policy would only benefit investors. Aug 7, 2014
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Sensex, Nifty Gain; Infosys Rallies on Weaker Rupee

Indian shares ended higher on Monday, snapping two days of fall as software services exporter Infosys rallied on weaker rupee, while lenders gained a day before the central bank's policy review. Aug 4, 2014
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