The Union Cabinet chaired by PM Narendra Modi has approved the establishment of the National Land Monetization Corporation, it was first proposed by Finance Minister Nirmala Sitharaman in the Union Budget 2021-22.
The Union Cabinet has approved an amendment to the FDI Policy to allow FDI up to 20 percent under the "automatic route" in LIC. This comes ahead of IPO of LIC. It must be noted that the FDI limit in the insurance sector is 74 percent. Last year it was raised from 49% to 74%.
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