ECONOMIC SURVEY ROOTS FOR MORE REFORMS TO COUNTER ACT SANCTIONS
Article Abstract:
The 1997-98 Economic Survey recommends urgent reforms to counter economic sanctions in the wake of nuclear tests at Pokhran. Sanctions can be countered with greater inflows of foreign direct investment (FDI). To attract FDI, procedures must be simplified in the forthcoming Budget for 1998-99. The Survey also advocates a well regulated forwards and futures market to minimise volatility and manage risk. The Survey has also focused on the need to establish derivatives markets to hedge exchange and portfolio risks. Controls on hedging must be removed. Capital account convertibility to be brought in gradually to reduce uncertainty. The Survey advocates cuts on government borrowing, sale of public sector undertakings (PSUs) and fiscal discipline. Besides, banks are asked to lend more to medium and small scale industry. The Survey suggests that bank reforms must continue so that real interest rates fall and thus help investment. (uh)
Comment:
India: The 1997-98 Economic Survey recommends urgent reforms to counter economic sanctions on nuclear tests at Pokhran
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GOVT MULLS REVERSAL OF FDI NORMS FOR BIOTECH SECTOR
Article Abstract:
The government is thinking of reversing the rules for foreign direct investment (FDI) for the bio-technology sector as its feels that foreign seed companies will enter India by taking advantage of the automatic approval route. The industrial policy currently permits upto 51 percent FDI through the automatic approval route for agricultural production and high-yielding seeds. The government is now thinking of considering proposals from foreign investors on a case-to-case basis. The government feels that the existing norms are not stringent enough to prevent the probability of terminator genes entering the country. (khr)
Comment:
The government is thinking of reversing the rules for foreign direct investment (FDI) for the bio-technology sector as its feels that foreign seed companies will enter India by taking advantage of the automatic approval route.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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WELCOME MOVE
Article Abstract:
The government has decided to permit clearance-free investment of upto $15 million by Indian companies in overseas ventures. The earlier limit was at $4 million. Indian multi national companies may soon come up and investments in Asia and Latin America may be viable. Some experts are of the view that this will lead to capital account convertibility. However, the exchange rate floats will arrest excessive dollar outflows. (nr)
Comment:
The government has decided to permit clearance-free investment of upto $15 million by Indian companies in overseas ventures.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
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