The Department of Industrial Policy and Promotion, Ministry of Commerce & Industry, Government of India has issued Press Note 3 of 2015 yesterday amending the Consolidated Foreign Direct Investment (FDI) Policy Circular of 2014 with immediate effect to permit 49% FDI in the insurance sector under the Government route subject to certain conditions, thereby enhancing the earlier cap of 26% (which was permitted and continues to be permitted under the automatic route).