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Foreign direct investment (FDI): Ordinance enabling FDI in coal mining

  • IASbaba
  • January 9, 2020
  • 0
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Foreign direct investment (FDI): Ordinance enabling FDI in coal mining

Part of: GS Prelims and GS-III- Economy

In News

  • The decision was taken to boost domestic production of Coal to one billion tonnes by 2023-24 as it leads to cheaper inputs and increase in competitiveness

About Ordinance: 

  • Ordinances are laws that are promulgated by the President of India on the recommendation of the Union Cabinet, which will have the same effect as an Act of Parliament. 
  • They can only be issued when Parliament is not in session. 
  • They enable the Indian government to take immediate legislative action

Foreign direct investment (FDI)

  • Investment from a party in one country into a business or corporation in another country 
  • Foreign direct investment can be made by expanding one’s business into a foreign country or by becoming the owner of a company in another country.

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