Govt. reviews FDI policy; hikes FDI in PSU oil companies from 49% to 100 % under automatic route

The Govt. has reviewed the extant FDI policy on the petroleum and Natural Gas Sector and has allowed raising FDI in Petroleum and Natural Gas sector up to 100% in automatic route in cases where a public sector undertaking has received in-principle approval for strategic divestment. Until now, 49 % of FDI in PSU Oil Companies was allowed under automatic route. The amendment is effective from 29.07.2021.The Govt. has reviewed the extant FDI policy on the petroleum and Natural Gas Sector and has allowed raising FDI in Petroleum and Natural Gas sector up to 100% in automatic route in cases where a public sector undertaking has received in-principle approval for strategic divestment. Until now, 49 % of FDI in PSU Oil Companies was allowed under automatic route. The amendment is effective from 29.07.2021.taxmann.com Latest Statutory HappeningsRead More

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