New scheme soon for floating Re bonds abroad; new framework for foreign cos to open project offices here: Das
Updated: Sep 28, 2015 01:22:25pm
Mumbai, Sept 28 (KNN) Department of Economic Affairs Secretary Shaktikanta Das today said new scheme would be unveiled soon for floating rupee bonds abroad and a new framework is being readied to make it easier for foreign companies to open project offices here.
Addressing at the event for official merger of FMC with Sebi, Das said that unleashing reforms is a continuous process and the government does not wait for the budget for the same.
He also said that more regulation does not mean “it is intrusive, (and) it can be benign” too.
“Government is committed to unleash a series of reforms in various sectors to push growth. A draft of GST (Goods and Services Tax) is now ready to be presented before Parliament,” he said.
Das further said the biggest challenge for Finance Ministry is to ensure revival of demand in an uncertain global market.
“Given the global uncertainties, India is the single brightest spot at the world stage. But, we cannot be complacent. We will continue with reforms to push growth above 7.5 per cent this fiscal.
“We have taken steps for demand revival, but it can’t be taken only through fiscal stimulus. We don’t have the space the demand revival has to be investment-driven,” he said.
Das announced that the government is working on a scheme where opening of branch or project offices by foreign companies gets simpler.
“We will be announcing this scheme shortly,” he said.
He also said that RBI will announce a scheme for floating rupee-denominated bonds overseas shortly. (KNN Bureau)
Addressing at the event for official merger of FMC with Sebi, Das said that unleashing reforms is a continuous process and the government does not wait for the budget for the same.
He also said that more regulation does not mean “it is intrusive, (and) it can be benign” too.
“Government is committed to unleash a series of reforms in various sectors to push growth. A draft of GST (Goods and Services Tax) is now ready to be presented before Parliament,” he said.
Das further said the biggest challenge for Finance Ministry is to ensure revival of demand in an uncertain global market.
“Given the global uncertainties, India is the single brightest spot at the world stage. But, we cannot be complacent. We will continue with reforms to push growth above 7.5 per cent this fiscal.
“We have taken steps for demand revival, but it can’t be taken only through fiscal stimulus. We don’t have the space the demand revival has to be investment-driven,” he said.
Das announced that the government is working on a scheme where opening of branch or project offices by foreign companies gets simpler.
“We will be announcing this scheme shortly,” he said.
He also said that RBI will announce a scheme for floating rupee-denominated bonds overseas shortly. (KNN Bureau)
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