Press Esc to close
Sunday 23 November 2014
News updated at 2:54 AM IST
Weather
Max: 0°C
Min : 0°C
In Bengaluru
Sunny day

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
Elderly women take part in Tug-of War during annual month long sports competition...

Elderly women take part in Tug-of War during annual month long sports competition...

A tigress in a playfull mood at the Maharajbag Zoo in Nagpur, Maharashtra...

A tigress in a playfull mood at the Maharajbag Zoo in Nagpur, Maharashtra...

Indian Air Force (IAF) Sukhoi Su-30 fighter aircrafts make a formation in the shape...

Indian Air Force (IAF) Sukhoi Su-30 fighter aircrafts make a formation in the shape...

Players during the 3rd day of IBSF World Snooker Championship in Bengaluru...

Players during the 3rd day of IBSF World Snooker Championship in Bengaluru...

Interim President, BCCI Shivlal Yadav felicitates Indian cricketer Rohit Sharma at the BCCI...

Interim President, BCCI Shivlal Yadav felicitates Indian cricketer Rohit Sharma at the BCCI...

Migratory birds arrive to make nest at tree at Islampur in Birbhum district of West Bengal...

Migratory birds arrive to make nest at tree at Islampur in Birbhum district of West Bengal...

Decommissioned warship, INS Vikrant being wrecked at Darukhana ship breaking yard in Mumbai...

Decommissioned warship, INS Vikrant being wrecked at Darukhana ship breaking yard in Mumbai...

Indian Air Force (IAF) helicopters make a formation during a parade for presentation...

Indian Air Force (IAF) helicopters make a formation during a parade for presentation...

Indian Coast Guard launching Interceptor Boat c-416 at Hazira, Surat...

Indian Coast Guard launching Interceptor Boat c-416 at Hazira, Surat...

Arun Jaitley with Mega actors Amitabh Bachchan and Rajinikanth...

Arun Jaitley with Mega actors Amitabh Bachchan and Rajinikanth...

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