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Chidambaram advocates to encourage foreign flow into India

New Delhi, Fri, 01 Feb 2013 NI Wire

Union Finance Minister P. Chidambaram has reiterated that government is all set to take the economy back to the path of higher growth and to achieve this, government observing the path of fiscal consolidation and imposition of fiscal targets and policies that will make necessary fiscal correction for the same. He was speaking on the occasion of sixth meeting of the Financial Stability and Development Council (FSDC) held here.

Addressing the session, Chidambaram said that the efforts being made to turn the economy around and create a more investor- friendly climate.

He further stressed to encourage foreign flows into India and offer reassurance on the positive investment climate, he has recently held discussions with a cross section of international investors at Singapore, Hongkong, London and Frankfurt last month and hoped to get positive results.

It is noted that the FSDC meeting was held as a pre-budget consultations' exercise with Financial Sector Regulators and was attended among others by Dr. D. Subbarao, Governor, RBI, U. K. Sinha, Chairman, SEBI, Yogesh Agarwal, Chairman, PFRDA, J. Hari Narayan, Chairman, IRDA, R.S. Gujral, Finance Secretary, Dr. Arvind Mayaram, Secretary, Department of Economic Affairs, Bose, Secretary, Department of Revenue, Shri Ravi Mathur, Secretary, Department of Disinvestment, Dr. Raghuram G. Rajan, Chief Economic Adviser, Rajiv Takru, OSD, Department of Financial Services and other senior officials of the Ministry of Finance.

(With inputs from ANI)

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