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

Don’t use foreign exchange for wealth fund

Posted on 14 October 2011

A Group of Ministers headed by Finance Minister Pranab Mukherjee today deliberated on the possible ways of creating a fund on the lines of ones that exit in countries like China. “Various things were discussed but no view has emerged,” Oil Minister S Jaipal Reddy said after the 75 minute meeting.
Sources privy to the deliberations said RBI was against using nation’s forex reserves for setting up the fund. So, the Planning Commission has been asked to work out surplus that may be generated after accounting for all Plan and non-Plan expenditure……………………………………….Full Article: Source


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