The Planning Commission today pitched for a further liberalisation of the Foreign Direct Investment (FDI) policy and improvement of business regulations to step up GDP growth rate to 9-9.5 per cent a year on an average in the 12th Five-Year Plan. In a presentation to the full Planning Commission meet, chaired by Prime Minister Manmohan Singh, it was stressed that there was a need to improve business regulatory framework, improving in ‘cost of doing business’ and transparency.

In 2011, India ranked 134th among 183 countries in the ease of doing business, according to a report of the World Bank and International Finance Corporation. India recently revised its FDI policy, which brought changes like doing away with the requirement for a foreign partner to seek no-objection certificate from its Indian partner before starting a new business in the same field.

However, some important suggestions, like opening FDI in multi-brand retail, still hang in the balance.Plan panel pitches for further liberalisation of FDI policy. The Planning Commission today pitched for a further liberalisation of the Foreign Direct Investment (FDI) policy and improvement of business regulations to step up GDP growth rate to 9-9.5 per cent a year on an average in the 12th Five-Year Plan. In a presentation to the full Planning Commission meet, chaired by Prime Minister Manmohan Singh, it was stressed that there was a need to improve business regulatory framework, improving in ‘cost of doing business’ and transparency.

In 2011, India ranked 134th among 183 countries in the ease of doing business, according to a report of the World Bank and International Finance Corporation. India recently revised its FDI policy, which brought changes like doing away with the requirement for a foreign partner to seek no-objection certificate from its Indian partner before starting a new business in the same field. However, some important suggestions, like opening FDI in multi-brand retail, still hang in the balance.