The Union Cabinet is likely to discuss the proposal to allow foreign news channels to uplink from India on Monday.
The proposal of the totally foreign-owned Star TV for uplinking from India for a 24-hour news channel has been pending before the government for some time now.
Similar requests have also been made by BBC and CNBC.
The government's decision on the proposal, the first of its kind, could have significant repercussions on private news channels with foreign equity.
News channels uplinking from India would have to adhere to the foreign equity limit stipulated by the government, in case it decides on changing in the present policy on uplinking.
The meeting is also likely to discuss the demerger of the loss-making Tea Trading Corporation from its parent company State Trading Corporation.
The Cabinet is also likely to take up for consideration amendment of the Banking Regulation Act for relaxation in voting rights of investors which are now capped at 10 per cent, irrespective of shareholding of investors.
Finance Minister Jaswant Singh had announced this relaxation in his Budget speech.
The decision on the proposed amendment is expected to give a fillip both to banks, now starved of technological inputs, and investors, particularly the foreign entities in private sector banks.
Many leading players including Standard Chartered Bank, Bank of Nova Scotia and Citibank had been pitching hard for relaxation.
The budget had announced higher FDI limit in private sector banks up to at least 74 per cent from all sources from the present limit of 49 per cent.
Through his slew of reform measures in banking sector in the Union Budget, Singh proposed to set up subsidiaries of foreign banks, apart from inviting private investments.
At present, there are many new generation banks like UTI Bank, IDBI Bank and IndusInd Bank eyeing foreign investments in a big way.