Press Esc to close
Tuesday 30 September 2014
News updated at 11:07 AM IST
Weather
Max: 31°C
Min : 21°C
In Bangalore
Sunny day
Breaking News

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
A community Durga Puja pandal in Kolkata...

A community Durga Puja pandal in Kolkata...

Cricket legend and owner of Kerala Blasters football team Sachin Tendulkar during the...

Cricket legend and owner of Kerala Blasters football team Sachin Tendulkar during the...

Police Commissioner Shivanand Jha sweeps the office premises as he participates in the...

Police Commissioner Shivanand Jha sweeps the office premises as he participates in the...

Visitors at an exhibition inside a Tram in Kolkata...

Visitors at an exhibition inside a Tram in Kolkata...

Microsoft CEO Satya Nadella interacts with the employees during a visit to the company's ...

Microsoft CEO Satya Nadella interacts with the employees during a visit to the company's ...

Female Passengers board a train after train services were partially resumed following...

Female Passengers board a train after train services were partially resumed following...

Fire tenders douse a major fire that broke out in a car service station at Sector 14...

Fire tenders douse a major fire that broke out in a car service station at Sector 14...

A road roller crushes a large number liquor bottles seized by the police from the...

A road roller crushes a large number liquor bottles seized by the police from the...

Audience members react as they attend an event with India's Prime Minister Narendra Modi ...

Audience members react as they attend an event with India's Prime Minister Narendra Modi ...

A painter reacts as he creates a portrait of India's Prime Minister Narendra Modi before...

A painter reacts as he creates a portrait of India's Prime Minister Narendra Modi before...

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