Sun, Apr 20, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

India: Sovereign wealth fund plan scrapped

Posted on 25 February 2013

The proposal of the Prime Minister’s Office (PMO) to create a Sovereign Wealth Fund (SWF) has been scrapped following overall assessment that India does not have sufficient foreign exchange to support it.
The most vocal resistance came from the Finance Ministry, with both the economic affairs and expenditure departments saying cash-rich PSUs should use their reserves and decide independently on commercial terms. “In the prevailing situation… it would be more advisable if PSUs with surplus funds and technical know-how take independent decisions to invest in acquiring assets based on commercial gains,” said the economic affairs department at a meeting held by the principal secretary to the PM………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

 Article link

This post was written by:

VRS - who has written 13908 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930