Government likely to widen scope of participatory notes: CNBC
04 September 2006
There are reports that suggest that the government may have rejected the Tarapore Committee's recommendations in its Capital Account Convertibility report, reports CNBC-TV18.
The government is likely to stick to the recommendations of the Ashok Lahiri Committee and widen the scope of participatory notes.
A day after releasing the expert panel report on fuller convertibility on the capital account, RBI Governor, Y V Reddy on Saturday said that the report was a mere suggestion and Reserve Bank of India would consult the government and take its view in the next few weeks.
one of the recommendations specifically made for the
year 2006-2007 will have to be looked at carefully in
the next few weeks. With appropriate consultations with
the government, we may
be in a position to take a view as to what can be done
straightaway or what can be done in a modified form.
But a view will have to be taken because they relate
to the year 2006 - 2007," said YV Reddy, Governor,