Press Esc to close
Wednesday 29 July 2015
News updated at 12:16 PM IST
Weather
Max: 19°C
Min : 32°C
In Bengaluru
Rain lightly

Chidambaram promises more reforms

New Delhi, Mar 23, 2013 (PTI):

Announcing further liberalisation of FII investment norms, Finance Minister P Chidambaram today said the government is "steadily and surely" working on next generation of reforms to put the economy back on high growth path.

Addressing the National Editors Conference here, he said with liberalisation of FDI and other measures, the government has travelled considerable distance on the road to fiscal consolidation and reforms.

In further liberalisation of norms for investment by Foreign Institutional Investors (FIIs) in government securities and corporate bonds, he said norms have been rationalised. "There were a number of sub divisions and in order to rationalise, it is proposed to merge the existing sub limits and create only two broad categories," he said.

One category of basket, he said, will consist of government securities of USD 25 billion  and the second basket will consist of all corporate bonds of USD 51 billion.

"Therefore from April 1, there will be two baskets, one of USD 25 billion for government securities and (the other) of USD 51 billion for all corporate bonds," he said. Promising more reforms, Chidambaram said that "we are steadily and surely working on next generation of reforms".

The recent economic reforms include liberalisation of foreign direct investment (FDI) norms in multi-brand retail and aviation, partial deregulation of diesel prices and caping supply of subsidised LPG.

Referring to the Food Security Bill, Chidambaram expressed confidence Parliament will soon pass it. "I am confident it (Food Security Bill) will be passed soon by Parliament, possibly in the Budget Session itself," he said.


Go to Top

Photo Gallery
Students of Indian Institute of Science (IISC) pays tribute to former President Abdul Kalam...

Students of Indian Institute of Science (IISC) pays tribute to former President Abdul Kalam...

People paying respects to the sand sculpture of former President APJ Abdul Kalam...

People paying respects to the sand sculpture of former President APJ Abdul Kalam...

The Indian national flag flies at half mast on the dome of India's presidential palace Rashtrapati..

The Indian national flag flies at half mast on the dome of India's presidential palace Rashtrapati..

Artist Ramzan Hussain makes a pencil sketch of former President APJ Abdul Kalam...

Artist Ramzan Hussain makes a pencil sketch of former President APJ Abdul Kalam...

SSM School students during the condolence meeting of Former President APJ Abdul Kalam...

SSM School students during the condolence meeting of Former President APJ Abdul Kalam...

School children in tears as they light candles to pay tribute to former President APJ Abdul Kalam..

School children in tears as they light candles to pay tribute to former President APJ Abdul Kalam..

Sachin Tendulkar paying his last respects to former President APJ Abdul Kalam...

Sachin Tendulkar paying his last respects to former President APJ Abdul Kalam...

Pranab Mukherjee laying a wreath on the mortal remains of former President APJ Abdul Kalam...

Pranab Mukherjee laying a wreath on the mortal remains of former President APJ Abdul Kalam...

Narendra Modi pays respect after the body of former President A.P.J. Abdul Kalam...

Narendra Modi pays respect after the body of former President A.P.J. Abdul Kalam...

Indian Air Force personnel pay their respects to former President of India APJ Abdul Kalam...

Indian Air Force personnel pay their respects to former President of India APJ Abdul Kalam...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523