The Cabinet on Friday decided to operationalise 51 per cent foreign direct investment (FDI) in multi-brand retail, but left it to the state governments to take a call on the setting up of such stores. It has also cleared FDI in the aviation and broadcast sectors. The move signals the end of policy paralysis in the UPA government.
Last year, the government cleared 51 per cent FDI in multi-brand retailers for cities with populations of more than a million. But following protests by the UPA and the opposition, it later rolled back the decision.
