March 4, 2011 9:00 PM

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Govt to further liberalise FDI policy: FM

Finance Minister Pranab Mukherjee says, the government is considering further liberalisation of FDI policy. This is to meet the ambitious One trillion Dollar fund requirement in the next five years for infrastructure development. Mukherjee said at an in New Delhi that discussions are on o liberalise the FDI policy.The move comes in the backdrop of a slowdown in the foreign direct investments and its impact on the current account deficit.The FDI during April-December this fiscal declined by 23 per cent to 16 billion dollars to from 20.8 billion in the same period last year.The current account deficit has been projected at 3.5 per cent of the GDP for the fiscal 2010-11. Mukherjee said that the sustainability of growth momentum of the country in medium term depends critically on quality and pace of infrastructure development.

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