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<ul><li>Foreign institutional investors are awaiting the selection of ministers on <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>'s new cabinet.</li><li>BJP's promises ahead of India's Parliamentary elections in 2019 lacked emphasis on the economy.</li><li>The opposition's attempts to draw focus on Modi's economic lapses fell on deaf ears.</li><li>Alastair Newton lists out three things that the Modi's new Cabinet of Ministers must focus on.</li></ul>Sensex, the benchmark index at the Bombay Stock Exchange, soared past 40,000 for the first time ever at the same time Narendra Modi was marching towards a historic mandate for five more years as india's Prime Minister. The markets were clearly cheering Modi's win. Foreign institutional investors bet a net of ₹1352 crore ($20 million) in one day when the BJP came back with a whopping majority, the first for any Indian party since 1984. However, they have questions. "We know so little about what BJP’s economic priorities are for the next five years," a long-time India watcher and political analyst, Alastair Newton, Co-founder &amp; Director, Alavan Business Advisory, told Business Insider. One thing that could signal the path is the impending selection of ministers in Modi's new cabinet. Newton has no doubt that Modi is the best bet to revive India's slacking economy. "Even though this government is much better placed in the upper house today than it was in 2014, structural reforms are very hard. There are always winners and losers and vested interests have to be seen for structurally reforms to be successfully carried through. I genuinely believe that Mr Modi has the mandate which can be turned into significant structural reforms, but the question is, is the will actually there to do it?" he added. Will Modi be like Reagan or Sanders? Newton's apprehension is much in line with <a href="https://www.nytimes.com/2019/05/19/opinion/india-elections-modi.html" data-type="tilCustomLink" target="_blank">the angst of Morgan Stanley's Ruchir Sharma</a>, who wrote in the New York Times this week that that India needs a free market champion some like Ronald Reagan but the people keep electing leaders who adopt socialist policies like the ones advocated by Bernie Sanders. "Although I fully accept that, in relative terms, Narendra Modi is business friendly, he is philosophically prone to statism at heart, and in some countries, he would qualify as a socialist," Newton said as he lined up three important reforms that the new government in India must initiate as soon as possible-- privatisation of state-owned companies (particularly banks), improve basic education and healthcare (especially in rural areas), and invest in building cold storage to curb the wastage of agricultural produce. " It will be a fortuitous time for privatisation of PSU banks because of the slowdown in the Indian economy. The discomfort the slowdown is going to cause can be overcome by a fiscal stimulus but the fiscal situation at this point is very tight indeed. And privatisation now, will give the government a little more revenue to play with fiscal stimulus," Newton said. In simple words, the government can use the money received from selling stake in companies to rev up the Indian economy. "I would chuck Air India, to be honest, into that as well and there are lots of other stuff as well which could be privatised," he added. According to him, while the focus will be on job creation, it is just as important to create a labour force that is educated and healthy enough to fulfill those jobs adequately. Interestingly, these three big reforms have been on Newton's wishlist since 2006. But there is hope. "What investors will continue to follow very closely is where the BJP 2.0 and Modi 2.0 is going to go on economic policy and priority. And that is going to start off with the makeup of the new cabinet when it is announced," he said. SEE ALSO: <a href="https://www.businessinsider.in/india-lok-sabha-elections-2019-counting-and-results-highlights/articleshow/69453349.cms" data-type="tilCustomLink" target="_blank">Narendra Modi has retained India's iron throne and reduced rivals to dust</a>

Foreign investors are thrilled about Modi's win but don't know what to expect from him

<keyword id="6355572" type="General" weightage="20" keywordseo="sri-lanka" source="Orion">Sri Lanka</keyword> will allow visa-free entry to visitors from seven countries, including India, China and Russia, under a pilot project the country's foreign affairs minister said on Tuesday. The decision was approved by the Sri Lanka Cabinet, minister <keyword id="8316702" type="General" weightage="20" keywordseo="Ali-Sabry" source="Orion">Ali Sabry</keyword> said. The minister said that the pilot project that has begun with immediate efffect will continue till till March 31, 2024. Taking to X, Minister Sabry said, "Cabinet approves issuing of free visas to India, China, Russia, Malaysia, Japan, Indonesia &amp; Thailand with immediate effect as a pilot project till 31 March." Last week, the Ministry of Tourism announced that a Cabinet Paper had been presented during the previous Cabinet meeting, proposing the issue of free tourist visas to foreigners from five countries who intend to visit Sri Lanka as tourists, The Daily Mirror reported. (ANI)

Sri Lanka announces free visa entry for Indians

<ul><li>Indian Finance Minister, <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword>, has announced a ban on e-cigarettes in India. </li><li>She said e-cigarettes are being used as a 'style statement' rather than a tool to quit smoking.</li><li>The ban is subject to approval from the Indian parliament.</li></ul> Indian Finance Minister and cabinet member, Nirmala Sitharam, announced a total ban on every aspect of e-cigarettes in the country. "Production, manufacturing, import, export, transport, sale, distribution, storage and advertisements related to e-cigarettes are all banned in India. It is banned in all these nine forms," stated Sitharam during the cabinet briefing. She said that the decision is being taken in lieu of the seven deaths, which occurred in the US over the past week, directly linked to the use of e-cigarettes. <div type="twitter" handle="PIB_India" handlename="PIB India" image="http://pbs.twimg.com/profile_images/974552536408444928/TVZG_9jP_normal.jpg" favoritecount="104" retweetcount="38" status="#UnionCabinet approves the promulgation of the prohibition of E-Cigarettes Ordinance, 2019. The decision to prohib… https://t.co/DF4OUMqGGa" createdat="1568800703000" id="1174261375339827201"></div>

 "The cabinet, rightly, thought it's time to immediately take a decision so that the health of our youth and citizens is not risked," said Sitharam. E-cigarettes are a 'style statement' A large number of e-cigarette models are available in the market today. However, none of them are produced in India. The government believes that are currently over 400 brands of e-cigarettes in the country available in over 150 flavours. The varieties on offer tend to make people try them due to the 'cool' factor, rather than the devices being used for their original purpose, which is to help people quit smoking. "In India, ground reports say that e-cigs are being used as a 'style statement'," said Sitharaman. "Reports say many people are not using it to quit smoking but actually smoking cigarettes as well as e-cigarettes, if they're already smokers. Some are getting into the habit because it seems cool," she explained. Passive smoking E-cigarettes were banned as they are not only harmful to the user and those around them. The fact that're odourless makes even more dangerous, according to Sitharaman. "The smoke exhaled by a user of e-cigarettes, contains a high level of residual nicotine, which for people around standing as passive smokers — it will affect them too," she said. While the cabinet approved the ban, it is subject to approval from the government. The ordinance advises the government to analyse the impact of e-cigarettes on people and their health. The cabinet will take the matter forward during the next session of parliament.

Cabinet bans e-cigarettes which are 'harmful' and a 'style statement'

The <keyword id="6355512" type="COMPANY" weightage="20" keywordseo="union-cabinet">Union Cabinet</keyword> on Wednesday approved a proposal to impose President's <keyword id="23207" type="PERSON" weightage="20" keywordseo="rule">Rule</keyword> in <keyword id="6354306" type="LOCATION" weightage="20" keywordseo="Puducherry">Puducherry</keyword>, days after a Congress-led government in the union territory lost power during a vote of confidence. Announcing the Cabinet decision, Union Minister <keyword id="119642" type="PERSON" weightage="20" keywordseo="Prakash-Javadekar">Prakash Javadekar</keyword> told reporters that the decision was taken as no party claimed to form a government in Puducherry following the resignation of the chief minister there. Subsequently, the Lieutenant General had recommended President's Rule in Puducherry and the Union Cabinet has approved the same, the minister said. After the President's assent, the assembly will get resolved, Javadekar said, while adding that further necessary steps for administrative work in Puducherry would be taken soon. He also noted that the model code of conduct was expected to come into effect soon after the Election Commission announces the dates for elections there, along with four states. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/dassault-aviation-has-an-india-it-services-unit-offering-defence-msmes-a-digital-trial-room-where-they-can-test-their-products-to-bag-more-contracts/articleshow/81183313.cms">INTERVIEW: Dassault Aviation has an India IT services unit offering defence MSMEs a digital ‘trial room’ where they can test their products to bag more contracts</a> <a href="https://www.businessinsider.in/india/news/these-indian-states-now-require-you-to-carry-a-covid-19-negative-test-report-for-entry-after-rising-coronavirus-cases/slidelist/81185478.cms">These Indian states now require you to carry a COVID-19 negative test report for entry</a> <a href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms">Vested Finance CEO shares his guide to US stock investing for Indians</a> <a href="https://www.businessinsider.in/careers/news/global-consulting-firm-zs-says-it-plans-to-hire-3000-employees-in-india-this-year/articleshow/81188160.cms">Global consulting firm ZS says it plans to hire 3000 employees in India this year</a>

Union Cabinet approves President's Rule in Puducherry

New Delhi, Mar 20 () The Department for Promotion of Industry and Internal Trade (DPIIT) has notified a decision of the union cabinet to allow non-resident Indians (NRIs) to control up to 100 per cent stake in disinvestment-bound Air India. The FDI policy earlier permitted NRIs to take only 49 per cent stake in the airline. In its press note, the DPIIT said: "Foreign investments in Air India including that of foreign airlines shall not exceed 49 per cent either directly or indirectly except in case of those NRIs, who are Indian Nationals, where foreign investment is permitted up to 100 per cent under automatic route". On March 4, the cabinet had taken a decision in this regard. The decision came at a time when the government has sought preliminary bids for 100 per cent stake sale in the national carrier. It also said that the condition that substantial ownership and effective control (SOEC) of Air India shall continue to be vested in Indian nationals. An official statement has earlier stated that in light of the proposed strategic disinvestment of 100 per cent of Air India by the government, it has been decided that foreign investment in Air India be brought on a level-playing field with other scheduled airline operators. The national carrier will have no residual government ownership and will be completely privately owned. Under the SOEC framework, which is followed in the airline industry globally, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals. RR ANSANS

DPIIT notifies decision to permit NRIs to own up to 100 pc stake in Air India

Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> will review next week the implementation status of some key decisions taken by the Union Cabinet, including those taken way back in July 2014. 

	Scheduled for February 17, this will be the second such review meeting that Modi will undertake with the Council of Ministers in just about three weeks.
 

	The 27 decisions of the Cabinet and the Cabinet Committee on Economic Affairs whose implementation status would be reviewed include the amendments to the Factories Act and the Apprentices Act, which were cleared over one and a half years ago in July 2014, sources told PTI.
 

	PM Modi had chaired a similar meeting of the Council of Ministers on January 27 as well.
 Other decisions slated for implementation status review are setting up of a <keyword id="974618" type="ORGANIZATION" weightage="20" keywordseo="Credit-Guarantee-Fund">Credit Guarantee Fund</keyword> for providing guarantees to loans extended under the Pradhan Mantri Mudra Yojana, operationalisation of Budget announcement of 2015-16 on the Atal Pension Yojana, the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Pradhan Mantri Suraksha Bima Yojana. The prime minister will also check progress in the <keyword id="2473706" type="UNKNOWN" weightage="20" keywordseo="Pradhan-Mantri-Jan-Dhan-Yojana">Pradhan Mantri Jan Dhan Yojana</keyword>, the <keyword id="6562839" type="UNKNOWN" weightage="20" keywordseo="Swacch-Bharat-Mission">Swacch Bharat Mission</keyword> for urban areas, the Housing for All by 2022 mission, the <keyword id="946830" type="ORGANIZATION" weightage="20" keywordseo="National-Skill-Development-Mission">National Skill Development Mission</keyword>, the National Health Mission and the Deendayal Upadhyaya Gram Jyoti Yojana. 

	Other such decisions relate to the National Ayush Mission, amendment to the Juvenile Justice (Care and Protection of Children) Bill, 2014, setting up three new All India Institute of Medical Sciences (AIIMS) at Mangalagiri, Nagpur and Kalyani and strengthening of the drug regulatory system.
 

	The decisions relating to setting up of six new IITs and IIMs, amendment to the Payment of Bonus Act, 1965, and the nationwide celebration of 125th birth anniversary of BR Ambedkar will also figure in the status review.

PM Narendra Modi to review implementation status of Cabinet decisions for the second time in 3 weeks

<ul class="summary-list"><li>Narendra Modi is still in power, but now his allies can start making demands of him.</li><li>These kingmakers want Cabinet positions and special funding, reports say.</li></ul>As Indian Prime Minister <a target="_blank" href="https://www.businessinsider.com/india-election-narendra-modi-gandhi-prime-minister-2024-6">Narendra Modi</a> assembles his next government, the calculus clearly differs from his past 10 years in power.Small political factions allied with his party, the Bharatiya Janata Party, have become vital to his hold on India's leadership. <a target="_blank" href="https://www.businessinsider.com/india-election-results-narendra-modi-bjp-congress-2024-6">Tuesday's election result</a> showed that <a target="_blank" href="https://www.businessinsider.com/indian-election-results-shocking-blow-narendra-modi-2024-6">Modi wouldn't have secured a simple majority in parliament</a> had they not joined his cause.It's a humbling moment for the BJP, which, in the past two elections, easily achieved a simple majority without the need for its allies.This year, it fell 32 seats short of the 272 parliamentary seats necessary to win. The rest of its coalition, the National Democratic Alliance, pulled Modi through with another 52 seats, meaning a desertion of several allied parties could turn the tide of the election.And don't they know it. Now increasingly dubbed the <a target="_blank" href="https://www.businessinsider.com/narendra-modi-win-bjp-india-election-explained-2024-6">kingmakers</a> by international media, these smaller factions are jockeying for important concessions such as Cabinet positions and special status for their states.<h2 id="7b023554-fe8a-4329-b81b-7f3b69a7e7cb">A new style of Cabinet for Modi</h2>Two major players here are the Telugu Desam Party and the Janata Dal (United) party, which <a target="_blank" href="https://results.eci.gov.in/PcResultGenJune2024/index.htm#">hold 16 and 12 seats</a>, respectively. Modi's alliance would have achieved only 265 seats, seven below the majority mark, without them.Both parties are known to have <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-04/here-are-the-india-kingmakers-who-will-determine-modi-s-future">switched loyalties before</a> and only joined forces with Modi in the months before the 2024 election.<a target="_blank" href="https://www.reuters.com/world/india/modis-appeal-clouded-india-election-by-prices-jobs-graft-survey-says-2024-06-06/">Reuters</a> reported on Thursday, citing two anonymous sources, that the Telugu Desam Party was seeking federal funds to complete irrigation projects in the state of Andhra Pradesh and construction for its capital.<a target="_blank" href="https://www.theguardian.com/world/article/2024/jun/06/narendra-modi-first-coalition-test-allied-parties-cabinet-seats">The Guardian</a>'s South Asia correspondent, Hannah Ellis-Petersen, reported that the party was apparently demanding five Cabinet positions and the position of parliamentary speaker.She added that meanwhile, Janata Dal (United) was said to be asking for three Cabinet seats.That would drastically change Modi's government's composition, which had <a target="_blank" href="https://affiliate.insider.com?h=47998c0896f9965203ac71fcbb0ab823a8860df9115e90130acf1dfd4b28c43a&amp;postID=66627454e01a10ede1c1dc60&amp;postSlug=narendra-modi-won-already-seeing-cost-him-allies-cabinet-funding-2024-6&amp;site=bi&amp;u=https%3A%2F%2Fwww.scribd.com%2Fdocument%2F514676878%2FMinisters-Portfolio">all Cabinet positions filled by BJP members</a>.The local outlet <a target="_blank" href="https://www.newindianexpress.com/nation/2024/Jun/07/many-ministers-of-modi-20-likely-to-be-dropped-this-time">The New Indian Express</a> reported on Friday that the BJP was already considering dropping some of its previous Cabinet ministers, particularly out of a pool of 19 who lost big in their elections this year.There are about 50 portfolios to be filled, but ministers often take multiple positions or share responsibilities, meaning a typical Cabinet is just below 30 members.<h2 id="e1cd1243-7951-4735-83cd-b79f3276b132">An uncertain road ahead for the BJP</h2>Still, Ellis-Petersen reported that the BJP appeared to have set boundaries on what could be demanded:Modi has so far secured the assent of his allies, who collectively declared this week that they would <a target="_blank" href="https://www.barrons.com/news/modi-led-alliance-agrees-to-form-next-india-government-statement-78b66664?refsec=topics_afp-news">form a new government</a> under him.Yet the haggling for loyalties is new territory for Modi's leadership, potentially marking a new era in how decisively he can project his vision over the country.He didn't have long to negotiate, either. Modi has already tendered his resignation to India's president and is expected to be <a target="_blank" href="https://www.straitstimes.com/asia/south-asia/india-s-modi-moves-quickly-to-secure-coalition-support-to-form-new-government">sworn in for his third term</a> over the weekend.The prime minister has campaigned heavily on <a target="_blank" href="https://apnews.com/article/modi-india-election-economy-inequality-b243400ef1312bd1c71a0ae3ebb0481e">India's rising status in the global economy</a> and promised to turn the country into the world's manufacturing hub. He'd boldly projected for the BJP to win 350 seats, with his coalition earning about 400 this year.With his election victory far less decisive than expected, the Indian stock market posted its <a target="_blank" href="https://markets.businessinsider.com/news/etf/indian-stocks-tumble-the-most-since-march-2020-with-modi-s-party-set-to-lose-majority-1033450216">worst day in four years</a>.One of the major concerns from voters has been a <a target="_blank" href="https://www.businessinsider.com/modi-india-election-economy-russia-oil-wealth-dimon-cook-musk-2024-5">surge in joblessness</a>, particularly among young Indian graduates. India's unemployment rate was 8.1% in April, up from 7.4% in March, according to the <a target="_blank" href="https://cmie.com/kommon/bin/sr.php?kall=warticle&amp;dt=20240502160006&amp;msec=476">Centre for Monitoring Indian Economy</a>.

It's been 3 days since Modi won, and we're already seeing what it's costing him 

<ul><li><keyword id="560063" type="ORGANIZATION" weightage="20" keywordseo="Indian-Steel-Industry">Indian steel industry</keyword> on Wednesday welcomed the government's decision to promulgate an ordinance to open up <keyword id="6356966" type="UNKNOWN" weightage="20" keywordseo="coal">coal</keyword> mining in the country to non-coal companies.</li><li>The amendment, ISA said, will remove the end-user restrictions besides allowing seamless transfer of environment and forest clearance in operational mines. </li><li>JSW Steel Chairman Sajjan Jindal said the move will go a long way in reducing the coal imports.</li></ul> Indian steel industry on Wednesday welcomed the government's decision to promulgate an ordinance to open up coal mining in the country to non-coal companies.
In a statement, apex steel industry body Indian Steel Association (ISA) said it hails the decision of the Cabinet to amend MMDR Act 1957 and Coal Mines (Special Provisions) Act 2015.
 "This is a huge reform announced by the government on commercial mining in Coal. This change in Act will help the country to reduce its dependence on coal imports and help attract investments from Indian and Global corporates," it said.
 The amendment, ISA said, will remove the end-user restrictions besides allowing seamless transfer of environment and forest clearance in operational mines.
 The step taken today was a long pending reform which will make the domestic steel industry more competitive on a global level, the association said.
 JSW Steel Chairman Sajjan Jindal said the move will go a long way in reducing the coal imports.
 "Huge reform announced by the government on commercial mining in coal. This will go a long way in reducing the coal imports which is over USD 15 billion/year," he said.
 In today's time when the oil prices are very uncertain, Jindal said, the decision was path breaking in making India self-reliant.
 Continuity of all forest and environment clearances for iron-ore mines for a period of two years is another great reform, he added.
 "This was a long pending reform which will make the Indian Steel industry more aggressive and competitive on a global level," he said.
 JSPL Chairman V R Sharma termed the decision as a 'game changer' for the industry.
 India has reserves for another 300 years and the time is ripe to use it. If it is not utilised now, it wont be able to utilised in future as developed countries are against coal usage.
 "They are spreading on international platforms that using coal is damaging the environment, which is incorrect. Like we do at our Angul plant which is India's first and largest syngas-based DRI plant and coal gasification plant (CGP) for steel-making," he said.
 Coal can be converted into syngas which can be used for producing petrol, diesel and other <keyword id="84980" type="ORGANIZATION" weightage="20" keywordseo="petroleum">petroleum</keyword> products, which can reduce dependence on crude oil imports, he added. The government on Wednesday approved an Ordinance to amend a law in order to ease rules for auctioning of coal mines and opening it for non-coal companies.
 The decision taken by the Cabinet, chaired by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, will also do away with end-use restrictions of the mining blocks, Coal Minister Pralhad Joshi said. "The Cabinet has approved promulgation of Mineral Laws (Amendment) Ordinance 2020," the minister said, addressing media after the Cabinet meeting.
 The Ordinance will ease rules for auctioning coal mines to open up to all sectors.
 It will allow auction of 46 iron ore and other mines before March 31, 2020.
 "The Centre has also approved gas grid for Northeast states and viability gap funding for Northeast grid. Viability gap funding for the North-East <keyword id="6354703" type="UNKNOWN" weightage="20" keywordseo="natural-gas">natural gas</keyword> pipeline Grid is a decision that shows the dedication of this government in encouraging growth in this region," ISA said. The government on Wednesday also approved a proposal to provide Rs 5,559 crore viability gap funding for building a 1,656 km gas grid in the Northeast region at a cost of Rs 9,256 crore.
 The decision will provide viability gap funding to Indradhanush Gas Grid Ltd for setting up the North East Natural Gas Pipeline Grid. ABI BAL

You Searched For "india cabinet decision" and got 8 results

Foreign investors are thrilled about Modi's win but don't know what to expect from him

Sriram Iyer

Sri Lanka announces free visa entry for Indians

ANI

Cabinet bans e-cigarettes which are 'harmful' and a 'style statement'

Prabhjote Gill

Union Cabinet approves President's Rule in Puducherry

PTI

DPIIT notifies decision to permit NRIs to own up to 100 pc stake in Air India

PTI

PM Narendra Modi to review implementation status of Cabinet decisions for the second time in 3 weeks

BI India Bureau

It's been 3 days since Modi won, and we're already seeing what it's costing him

Matthew Loh

Steel players hail govt's decision to open coal sector

PTI

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