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

India abandons a stupid idea: No sovereign wealth fund

Posted on 26 February 2013

An idea born more out of hubris than good sense is bound to die an unsung death. And so it is with the much-touted India sovereign wealth fund (SWF). The idea was dusted up in the first years of UPA-2, where the government assumed that 9-10 percent growth was a given, and thus India can dream big on the world stage, buying this oilfield and that coalfield. But we now know that the dream was unreal.
Living consistently beyond our means has impoverished not only the exchequer, but the country as well. We are now down to a new normal growth of 5 percent………………………………………..Full Article: Source


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