NEW DELHI, July 6: Indian Minister of State for Industries PJ Kurten yesterday said that industrial policy would be liberalised with increases in foreign equity participation and ceiling for nonlicensed industries, reports Xinhua.

Speaking at a news conference here Kurten said the liberalised policy would be announced only the budget session of parliament.

Following the directive of Prime Minister Naraslmha Rao, who is in charge of industries, the ministry had already started working on the liberalisation, Kurten said.

Replying to the question if the government would raise foreign equity participation to 51 per cent from the present 40 per cent. Kurien said we will try to allow more foreign equity'.

He said the list for compulsory licensing would be reviewed and broad directions would be towards liberalisation.

He also said the government would attempt to provide easy credits to small-scale units as part of its efforts to encourage the sector