Foreign direct investment (FDI): Ordinance enabling FDI in coal mining
Part of: GS Prelims and GS-III- Economy
- 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
- 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.