Business Daily from THE HINDU group of publications
Wednesday, May 07, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, May 07, 2008 ePaper | Mobile/PDA Version | Audio |
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Government
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Financial Policy Money & Banking - Overseas Investments ‘No plan for Soverign Wealth Fund’ New Delhi, May 6 The Finance Minister P Chidambaram said on Tuesday that India was not looking to set up a Sovereign Wealth Fund (SWF). “There is no such proposal under consideration of the Government at present”, Mr Chidambaram said in written reply to a question in the Rajya Sabha. Currently, there are about 40 SWFs around the world that collectively manage a corpus of about $ 3 trillion. The Prime Minister’s Council on Trade and Industry had suggested the setting up of a sovereign fund, with initial corpus of $ 5 billion, to help fund acquisition of companies abroad. — Our Bureau RBI not keen to manage sovereign wealth fund Time to get back India’s Sovereign Wealth Fund More Stories on : Financial Policy | Overseas Investments
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