ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Capital Account Convertibility of the Rupee

Three important preconditions need to be met before the rupee is made convertible on the capital account. Investment in real estate should be confined to persons of Indian origin, gold stocks should be used to provide a buffer against exchange crises and the combined deficits of the centre and states should be brought down to 3 per cent of GDP.

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