Indian Cabinet major approvals |
India`s Union Cabinet of Ministers under the Prime Minister on May 6 approved the Real Estate Investment Trusts (REITs) as an eligible financial instrument/structure under the Foreign Exchange Management Act (FEMA) 1999. The Cabinet also approved pension, insurance schemes. Besides, it gave approval to operationalising three social sector schemes - Atal Pension Yojna (APY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY).
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