Indian Cabinet approves new economic reforms

Published October 5, 2012 12:47am ET



NEW DELHI (AP) — India’s Cabinet pushed ahead with a second wave of economic reform proposals, endorsing higher levels of foreign investment in insurance and pension funds and amendments to laws governing competition, Finance Minister Palaniappan Chidambaram said.

Nearly all of the new measures have to be approved by Parliament, where support is questionable and the governing coalition controls only a minority of seats.

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