Indian Government revealed new Measurement to Protect Rupee

Indian Government revealed  new Measurement to Protect Rupee:  The Federal Government of India is disclosed the proper measurement to protect the rupee against dollar, so far it is decreased it value 12 percent against the dollar  from last couple of months. According to the Indian  Finance Minister P. Chidambaram the measurements will  help to grab the investments into India up to $75 billion in this fiscal year it is $11 billion in present period.  

NRI DEPOSITS:The Reserve bank of India is expecting around $1 billion. from the NRI's by  liberalizing the deposit schemes,
with help of new guidelines Foreign Currency Account Scheme (FCNR) Accounts,
interest rate will be deregulated on deposits with maturity of 3 years or more.  Non-Resident Rupee Account Scheme (NRE)/ FCNR will be exempt from cash reserve ratio and statutory liquidity ratio requirements.

GOLD:The government  is expecting  gold import around 850 tonnes in this fiscal year last year it was 950 tonnes based on this import Govt expecting import bill $4 billion.

IMPORT RESTRICTIONS: The government is going bring  a Tariff  notification about the non-essential import items like TVs and Fridges based on this notifications Govt Expecting some dollar savings.

SOVEREIGN WEALTH FUNDS:The government  is expecting 30%  investment from Sovereign wealth funds which are  tax-bonds coming from   state-run infrastructure  finance companies.

OIL FROM IRAN: To increase the oil import from Iran and saving the dollar Governemtn is going to cut the oil import bill up to 1.5 billions this fiscal year.

QUASI-SOVEREIGN BONDS: Power Finance Corp. (PFC) will raise $1.5 billion,Indian Railway Finance Corp. Ltd. (IRFC)  will raise $1 billion and  India Infrastructure Finance Company Ltd. (IIFCL)  $1.5 billion from overseas via quasi-sovereign bonds to finance long term infrastructure. Finance Minister told to the Press.

OVERSEAS CORPORATE BORROWING:  The goverment is expecting $2 billion  this fiscal year from overseas money markets by issueing the circular to relax the guidelines on barrowings. This circular will issue on Tuesday, with the help of this circular  multi-national companies in India will be allowed to  raise money from their parent companies.

OIL COMPANY FINANCE:  The Government is expecting $4 billion from State-run oil companies.Bharat Petroleum (BPCL) raise up to $1billion,  Indian Oil (IOC) will raise $1.7 billion  and Hindustan Petroleum (HPCL) will raise $1 billion.   An additional $250 billion will come from trade finance.