The Winter Session of Parliament will begin today. The
Session will have 20 sittings. It will end on the 13th of next month. Prime
Minister Narendra Modi expressed hope that both Houses of Parliament will
have constructive debates on ways to empower citizens and further India’s
Briefing reporters after the meeting, Parliamentary
Affairs Minister Pralhad Joshi said Mr Modi urged the political parties to
make Winter Session of Parliament productive, like the last one. He said
Prime Minister stated that constructive discussions in Parliament keep the
Prime Minister Narendra Modi has expressed hope that
both the Houses of Parliament will have constructive debates on ways to
empower citizens and further India’s development. In a tweet after attending
the all-party meeting, Mr Modi said this time the Rajya Sabha will mark its
Mr Modi said he had an extensive meeting with the BJP
Parliamentary Party. He said the party will utilise the Session to further
views on various developmental issues and contribute to transforming
The Prime Minister said the NDA represents the
country’s diversity and the aspirations of 130 crore Indians. He said no
stone will be left unturned in ushering a qualitative change in the lives of
farmers, youngsters, Nari Shakti and the poorest of the poor.
Defence Minister Rajnath Singh has said that the North
Eastern Region is very crucial for the nation from a strategic point of view
but it was ignored by the Centre for a long period.
He said, the moment Narendra Modi became the Prime
Minister of India, he decided that every Union Minister will tour north-east
for at least four times a year and will review all the development
activities under their respective ministries in the region.
Speaking after inaugurating the Siseri River Bridge in
East Siang District today, he said, Mr Modi believes that development of the
nation is not possible without the development of the NE region.
The Minister said, in the last five years,
connectivity in the region has increased in a fast pace. He said
connectivity in the region is not only important for development and also
for from security point of view.
Mr. Singh said the completion of the Siseri River
bridge will not only decrease distances but also will ease in the movement
and deployment of CAPFs in the area for security purpose.
Mr Singh informed that the Defence Ministry has
sanctioned 50 crore rupees for the survey of the strategically important
Bhalukpung-Tenga-Tawang Railway line. He said the survey work is likely to
be completed in one and half year.
He also appreciated the NHAI and BRO for their hard
work and dedication in constructing road in the difficult terrain of
Arunachal Pradesh and connecting the unconnected.
In a bid to ease the flow of foreign funds into
legitimate business activities, the government may soon ease restrictions on
foreign direct investment (FDI) by joint ventures (JVs) or wholly-owned
subsidiaries (WOS) of an Indian company without categorising such
investments as "suspect" involving 'round tripping' of funds.
The existing legal framework under FEMA does not
permit FDI by an overseas JV or WOS of an Indian party without the prior
approval of RBI. Similarly, there are restriction on Indian entities to
undertake overseas direct investment (ODI) in a foreign entity which already
has existing FDI investment structures in India.
The changes have become important in the backdrop on
slowing of the Indian economy and resultant lack of investment by the
The stringent view adopted by the RBI under the
objective of preventing 'round tripping' of funds has impacted abilities of
certain Indian companies which have made ODI outside India to attract FDI in
India even for their group entities, even for legitimate and bona fide
Sources said that the Department for Promotion of
Industry and Internal Trade (DPIIT) is also studying the report for
finalising changes in the Press Note pertaining to FDI by JV of WOS of
Official sources said that though the changes would
give free access to FDI by an Indian entity through its own JV or WOS, it
would need to be established that such flow of funds is only for bonafide
business interests and such funds are invested as FDI in India through
proper banking channels.
Prime Minister Narendra Modi has described the
just-concluded BRICS Summit in Brazil's capital Brasilia as very productive.
In a tweet, Mr Modi said, during the Summit, BRICS
leaders had fruitful dialogues on cementing ties in trade, innovation,
technology and culture.The Prime Minister said, the focus on futuristic
subjects will lead to deeper cooperation that will benefit the people of our
The Prime Minister has since left for New Delhi. He
reached Brasilia on Wednesday to take part in the BRICS Summit.BRICS
comprises five countries namely Brazil, Russia, India, China and South
Earlier in Brasilia, addressing the BRICS Business
Council, the Prime Minister urged BRICS countries and New Development Bank (NDB)
to join the global Coalition for Disaster-Resilient Infrastructure.
Participating in the Dialogue with BRICS Business
Council and NDB, Mr Modi offered India's full backing to the multilateral
financial institutions in promoting global growth.
He called for an early opening of the Regional branch
of New Development Bank in India. He urged the BRICS Business Council to
create a roadmap to achieve the 500 billion dollar intra-BRICS trade target
by the next summit.