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India likely to raise foreign investment limit in govt debt soon: Sources

Reuters | Last Updated: Monday, June 9, 2014 - 14:09

Mumbai: India is likely to raise the foreign investment limit in government debt soon, as almost all of the current allocation has been taken up, said four officials with direct knowledge of the government`s thinking.

The current limit is Rs 995.46 billion ($16.9 billion).

One of the sources said the government could raise the amount foreign investors are allowed to buy by another $5 billion.

The finance ministry will decide on the matter after consultations with the Reserve Bank of India and capital markets regulator Securities And Exchange Board of India, the sources said.

"I expect the government to take a call on this soon," said one of the officials involved in the process.

The sources declined to be identified as they were not authorised to talk to the media about the plans.

First Published: Monday, June 9, 2014 - 14:09
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