Finance Minister P Chidambaram has said that further opening up of telecom sector and Indian private banks to FDI was 'pretty close' and will be done in the next few days.
In an interview with PTI, he said that all the promises made for opening up three sectors -- civil aviation, telecom and insurance -- would be fulfilled in the current fiscal.
"Civil aviation has already been liberalised and the second one, telecom, is pretty close as Telecommunication Minister Dayanidhi Maran said a couple of days ago. We are resolving the problems and, to use the telecom language, it is the last mile (to be cleared)."
Chidambaram had announced a proposal to increase FDI cap from 49 per cent to 74 per cent in the telecom sector.
As regards opening up of the Insurance sector, Chidambaram said he hoped to introduce a legislation (to raise FDI cap from 26 to 49 per cent) in the Budget session.
On banking sector reforms, he said the roadmap for allowing foreign banks to acquire up to 74 per cent equity in the Indian private banks will be unveiled in the next few days.
"When the roadmap is ready in the next three or four days, it will be unveiled," he said, adding the regulatory conditions would be made clear in the roadmap.
The roadmap was being contemplated as many of the Indian private sector banks were 'too weak to survive', he said.