17.04.2013 - India: PM pushes for $100bln sovereign wealth fund
The prime minister’s office does not agree with the finance ministry position that the country does not have enough foreign exchange to set up a sovereign wealth fund. Prime minister Manmohan Singh is keen on creating a $100 billion fund. Finance minister P Chidambaram will soon meet the prime minister to discuss the next steps towards creating the fund. “Inputs from various ministries have been received. The prime minister will now give a final directive,” says an official. At a recent meeting chaired by the prime minister’s principal secretary Pulok Chatterjee, finance ministry officials said that the foreign exchange was not enough for the fund...........................................Full Article: Source
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