English Release 24-October 2014
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- PM salutes our brave ITBP personnel on the Raising Day of ITBP
- Min of Agriculture
- Kharif Rice Area Coverage
- Min of Commerce & Industry
- DIPP Constitutes IPR Think Tank to Draft National Intellectual Property Rights Policy
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- Brave Heart NCC Cadets Rescue Middle Aged Woman
from River Yamuna
- Ministry of Finance
- Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3 Crore
- Min of Health and Family Welfare
- Dr Harsh Vardhan offers cooperation to Pakistan to end polio
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- Min of Petroleum & Natural Gas
- Modified DBTL Scheme
- Global crude oil price of Indian Basket was US$ 83.61 per bbl on 23.10.2014
- Min of Road Transport & Highways
- Electronic Toll Collection System to be Inaugurated on October 31, 2014
- Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
- India’s Performance at 2nd Asian Para Games 2014 on 22nd and 23rd October, 2014
- Min of Urban Development
- Shri M.Venkaiah Naidu adopts Hudhud cyclone ravaged village of Andhra Pradesh for rehabilitation
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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(Release ID :90127)