Indian Prime Minister Manmohan Singh’s cabinet unveiled a second wave of policy changes intended to bolster a slumping economy as he seeks to restore faith in his leadership and establish a platform for his party less than two years before the next general election.
In a move that signaled the Congress party-led government’s intent to push ahead with the biggest opening of the economy to global investors since 2004, ministers approved proposals allowing overseas companies to hold as much as 49 percent in insurance firms, and for the first time permit foreign investment in pension funds. The bills will need the consent of lawmakers in parliament.
looking beyond borders 