Business"Restrictions On Masala Bonds Removed": Arun Jaitley Reveals Steps To Contain Rupee, Trade Gap
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"Restrictions On Masala Bonds Removed": Arun Jaitley Reveals Steps To Contain Rupee, Trade Gap
Restrictions on ECBs removed, says Finance Minister Arun Jaitley
Decisions to check current account deficit, raise forex inflows, he adds
Current account deficit increased to $15.8 billion in April-June
PM Modi was briefed by RBI Governor and finance ministry officials on the economy, Arun Jaitley said.
The government has decided to cut non-essential imports and increase exports amid a widening current account deficit (CAD), sliding rupee and soaring crude oil prices, Finance Minister Arun Jaitley said on Friday. The government, in a meeting chaired by Prime Minister Narendra Modi, also decided to remove restrictions on external commercial borrowings and masala bonds to control the current account deficit, which slipped for the firs...