The Securities and Exchange Board of India will discuss the suggestions made by the KM Chandrashekhar Committee, which was mandated to simplify norms for foreign investors at its board meeting slated for June 25 with a view to attracting more foreign inflow to reignite the Indian economy.
“My preliminary view is that we are broadly in favour of the Chandrasekhar committee recommendations... We think the Chandrashekhar committee report is extremely positive and they deserve to be accepted of course after the discussion,” Chidambaram while addressing the media on Tuesday.
A SEBI -appointed committee headed by former cabinet secretary KM Chandrasekhar yesterday recommended a slew of measures including simplified registration process for foreign investors and classifying them into a single category.
The government has raised the limit for foreign investment in government dated securities by $5 billion to $30 billion.
The government is looking at ways to bolster overseas capital inflows amid falling rupee.
Meanwhile, the government on Thursday kick-started its disinvestment process by selling 9.33 per cent stake in state run MMTC.
The government expects to realize Rs 567.90 crore from the stake sale. This was the first PSU disinvestment in this fiscal.
The government has set itself a target of mopping up Rs 40,000 crore this fiscal through stake sale of public sector enterprise.