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Monday, June 25, 2012

Top six steps: Government takes to boost economy

Here are top 6 current improvements:

1) Exterior Industrial Borrowings limitation was raised to $40 bn from $30 bn previously. This would be to pay back terrific rupee loans of Indian companies. This arrives as a comfort to the manufacturing industry. The rupee loans are expensive while international currency credit tend to be less expensive.

2) The limitation on overseas institutional investment in govt stock options in India had been increased by $5 bn.

3) The RBI made a decision to expand the non-resident investor base to incorporate sovereign wealth funds, pension funds and insurance funds in government securities having a cap of $20 bn. This is extra to the FII investment limit of $5 bn.

4) Qualified Foreign Investors (QFIs) can now put in those mutual fund (MF) plans which keep at least 25 per cent of their possessions (either in debt or in equity or both) in the national infrastructure industry under the current Usd 3 billion sub-limit for investment in mutual funds associated to national infrastructure.

5) Markets responded in a negative way shortly after the headline. Standard indices like BSE Sensex and Nifty dropped as the current market was anticipating a lot more through these notices.

6) Financial growth dropped to 6.5 per cent in 2011-12 - and to a 9Yr low of 5.3 per cent in the March quarter - while industrial production carries on to be slower with a mere 0.1 per cent progress in April. Rising cost of living too stayed at an raised stage of 7.55 per cent in May.