English Release 23-November 2014
- President's Secretariat
- PRESIDENT’S MESSAGE ON THE EVE OF THE MARTYRDOM DAY OF GURU TEG BAHADUR
- PRESS COMMUNIQUE
- Min of Defence
- Coastal Security Network Must Ensure Zero Tolerance to Error: Parrikar
- Min of Information & Broadcasting
- 45TH IFFI Celebrates Dance in Indian Cinema
- New Experiments in Documentaries Section
- 45th IFFI Pays Retrospective Honours to Gulzar; Screens ‘Libas’
- Cinema Means Love and Responsibility Not Business: Mohsen Makhmalbaf
- Student Filmmakers are Promising and Full of Original Concepts: Prof. B. Diwakar
- Min of Personnel, Public Grievances & Pensions
- Dr. Jitendra Singh receives cheque for J&K flood relief from PEPCO Bank
- Min of Science & Technology
- HPV option to prevent preterm births dangerous --Dr Harsh Vardhan
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.
* * * * *
(Release ID :90127)