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English Release 30-August 2014
Date Month Year
  • President's Secretariat
  • President of India’s Message on the Eve of National Day of Trinidad and Tobago
  • President of India’s Message on the Eve of National Day of Malaysia
  • President of India to Attend 14th Convocation of the University of Jammu
  • Prime Minister's Office
  • Prime Minister Narendra Modi starts his Japan visit with a private dinner with Japanese Prime Minister Shinzo Abe
  • PM arrives in Japan
  • PM condoles the passing away of Shri Bipan Chandra
  • Ministry of Finance
  • Pradhan Mantri Jan-Dhan Yojana: No Burden on Banks Rather Makes A Reasonable Business Case for Them
  • Steps Taken by the Government Starts Showing Results: GDP Shows A Growth Rate Of 5.7 Per Cent in Q1 Of 2014-15 Over the Corresponding Quarter of the Previous Year; Headline WPI Inflation Comes Down to 5.1 Per Cent in July 2014 Among Others
  • Min of Health and Family Welfare
  • Dr Harsh Vardhan witnesses grassroots health system dysfunction and meets doctor couple with rare commitment

Previous Date

 
Ministry of Finance06-December, 2012 18:55 IST
Government takes Several Initiatives to attract Foreign Investment

Government has been making concerted efforts to attract greater foreign investment into India. Some of the important steps taken in this direction are as under:

i) The Qualified Foreign Investor (QFI) scheme was introduced in the Budget 2011-12 by allowing foreign investors to invest in Mutual Funds, subject to certain conditions. On 1st January, 2012, the Government expanded this scheme to allow QFIs to directly invest in Indian Equity Market. As announced in Budget 2012-13, QFI can now also invest in corporate bonds.

ii) The limits for FII investment in various categories of debt securities have progressively been enhanced. Further, the debt limit allocation mechanism for FIIs have been rationalised by allowing reinvestment facility to FIIs; Reduction in utilization period of debt limits and adoption of First Come First Serve (FCFS) method of allocating limits in case of the long term infra bonds.

iii) The terms and conditions for the FII investment scheme in infrastructure dept and non-resident investment scheme in Infrastructure debt funds (IDFs) have been rationalised in terms of reduction in lock-in period and residual maturity criterion.

iv) The policy pertaining to the Foreign Direct Investment is being periodically reviewed and the latest liberalisations measures taken are in the sectors of multi-brand retail trading, single brand retail trading, permitting investments in the civil aviation sector, enhancing limits in the Broadcasting sector, permitting FDI in power exchanges. These measures have been notified vide Press Notes No. 4 to 8 2012, issued by Department of Industrial Policy and Promotion, Ministry of Commerce & Industry.

The aforesaid reform measures taken by the Government were conveyed to the representatives of FIIs in recent meetings/discussions. These steps have been welcomed by FIIs.

This was stated by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question in the Rajya Sabha today.

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DSM/RS/ka
(Release ID :90127)

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