| The sovereign wealth fund (SWF) theme is a battle the Planning Commission has often waged with the finance ministry over the past few years. The Commission has pushed for sequestering a sum from the foreign exchange reserves to develop a fund that can stand as support for Indian companies when they scour foreign markets to buy into typically resource-rich companies.
Every time, the ministry has turned around the concept to argue instead for an infrastructure fund that will generate resources from global markets to invest within India. So it is difficult to guess if the latest suggestion from Planning Commission deputy chairman Montek Singh Ahluwalia for an SWF will travel far..............................................Full Article: Source |