Pranam,
A million Dollar Question …Meeting is OK …But Why try to Convince FII's ?Why every day it is needed to talk about Growth ,Inflation ??
-Finance Minister Pranab Mukherjee on Tuesday asked institutional investors, including foreign entities, to remain bullish on the long-term growth trajectory driven by next generation reforms.-Not to be bothered by short-term statistics and assured them of building a consensus on a hike on foreign direct investment (FDI) by private insurers to 49 per cent from the existing 26 per cent and opening up the multi-brand retail sector for foreign investment.
-Next generation financial sector reforms like widening and deepening of securities markets, reducing transaction cost in the markets, liberalising foreign capital inflows and strengthening regulatory architecture have already been initiated.
-Economic growth could be around 8.5 per cent this financial year, the same level as of 2010-11, but lower than the projected nine per cent by the Economic Survey. He, however, exuded confidence that fiscal deficit would be reined in at 4.6 per cent of GDP, as revenue collections are not likely to see a decline.
-Representatives from Principal MF, Kotak Group, GMO Singapore PTE, Lloyd George, Birla Life Insurance, Fidelity, HDFC MF, Morgan Stanley, ICICI Prudential MF, Reliance MF, Franklin Templeton and SBI MF, among others, attended the meeting.
-FIIs have invested $3.2 billion in Indian securities market on net basis in 2011 so far. However, most of it — over $3 billion — came into debt instruments.
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