ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Managing the Transition to Convertibility

There is little doubt that moving towards a more open capital account would benefit the country enormously. The domestic foreign exchange market is providing a leading edge in the move to convertibility. The Tarapore Committee should ensure that residual controls on foreign direct investment and external commercial borrowings are removed and sectoral imbalances in the economy are addressed.

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