India - Partner In Growth
Welcome to the May 31, 2017  bulletin of key policy decisions and high-impact news, presented by the Embassy of India, Washington DC.
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KEY POLICY DECISIONS
Govt. Procurement Policy to Support Make-in-India 
Striking the right balance between Make-in-India and value-for-money objectives, the Government has approved a new policy that lays down a 20 percent limit for domestic manufacturers to match the lowest bid in procurement offers issued by Government agencies.

Phasing-Out of Foreign Investment Board OK'd
The Government has approved the phasing-out of the Foreign Investment Promotion Board as announced in the Union Budget 2017-18. Foreign direct investment proposals that need Government approval will now be processed by the respective administrative Ministries.    
 
More Funding for National Waterways
     
The Government has approved a measure that would allocate 2.5 percent of the Central Road Fund for development of National Waterways in the country. The move is likely to yield $300 million for the development of inland waterways each year.

Govt. OKs $350 Million in Bonds for Renewable Energy 
   
The Government has approved the launch of $350 million in bonds through the Indian Renewable Energy Development Agency for the development of renewable energy in the country this year.

HIGH-IMPACT NEWS
Celebrating 3 Years of the PM Modi Government
Nationwide celebrations have been launched to mark the third year of the Government led by Prime Minister Narendra Modi. The celebrations will be held at 900 places across the country from May 26 to June 15. The theme of the celebrations is Making-of-Developed-India, an acronym that matches the last name of India's Prime Minister.
 
PM Modi Inaugurates Asia's Longest Bridge
Prime Minister Narendra Modi has inaugurated Asia's longest bridge, the 5.7-mile long Dhola Sadiya Bridge on Lohit river in Assam, which will reduce the travel time between Assam and Arunachal Pradesh by more than four hours.
$1 Billion Rail Project for Delhi
An ambitious $1 billion rail project has been approved to lay down the metro network connecting Noida and Greater Noida with the Delhi Metro Rail Network, giving a major boost to connectivity in the National Capital Region.

GST Exemptions to Phase Out Gradually
Finance Minister Arun Jaitley has announced a gradual phase-out of the excise duty concessions as the Goods & Services Tax is rolled out across   the country.


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