New Delhi: The Union Cabinet in its meeting on Monday evening is likely to approve ordinances for the Land Acquisition Act and Mines and Minerals (Development and Regulation) Act.
President Pranab Mukherjee had last week, signed ordinances on raising the cap of Foreign Direct Investment in Insurance as well as facilitating e-auction of coal blocks. The government had to resort to the move after it failed to get the Bills passed due to constant disruptions in the winter session of Parliament.
The government plans to exclude 13 central laws to clear several infrastructure and Public Private Partnership projects.
Finance Minister Arun Jaitley expressed the hope that hiking of the foreign investment cap in the insurance sector to 49 per cent, which has been pending since 2008, will result in capital inflow of $6 billion.
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