For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

New Schemes Soon For Rupee Bonds, Easier Norms For Foreign Companies

By Super

Mumbai, Sep 28 (PTI) Promising more reforms to push growth above 7.5 per cent this fiscal, the government today said a new scheme would be unveiled soon for floating rupee bonds abroad while a new framework is being readied to make it easier for foreign companies to open project offices here.

New Schemes Soon For Rupee Bonds, Easier Norms For Foreign Companies

Speaking here at the event to formalise merger of commodities regulator FMC with capital markets watchdog Sebi, Department of Economic Affairs Secretary Shaktikanta Das said that unleashing reforms is a continuous process and the government does not wait for the budget for the same.

He also said that more regulation does not mean "it is intrusive, (and) it can be benign" too. "Government is committed to unleash a series of reforms in various sectors to push growth.

A draft of GST (Goods and Services Tax) is now ready to be presented before Parliament," he said.

Das further said the biggest challenge for Finance Ministry is to ensure revival of demand in an uncertain global market.

"Given the global uncertainties, India is the single brightest spot at the world stage. But, we cannot be complacent. We will continue with reforms to push growth above 7.5 per cent this fiscal. "We have taken steps for demand revival, but it can't be taken only through fiscal stimulus.

We don't have the space The demand revival has to be investment-driven," he said. Das announced that the government is working on a scheme where opening of branch or project offices by foreign companies gets simpler.

"We will be announcing this scheme shortly," he said. He also said that RBI will announce a scheme for floating rupee-denominated bonds overseas shortly.


Read more about: bonds sebi
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more