The government today tabled amendments made to the Foreign Exchange Management Act of 1999 (FEMA) in the Lok Sabha following its decision to allow 51 per cent Foreign Direct Investment (FDI) in October this year. Minister of State for Finance S S Palanimanikam laid the copies of notifications on the table of the House. The amendments relate to regulating the transfer or issue of security by a person resident outside India, deposits and foreign exchange derivative contracts.

The tabling of the amendments made to FEMA is mandatory for the government to implement its executive order on allowing FDI in multi-brand retail. The regulations are required to be tabled in Parliament within 15 sittings of the Houses in session.