January 2005 -

Invest more!

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This is was the message given by the Finance Minister Mr. P. Chidambaram on his talk. Taking note of the rapid decline in the NRI investments in India from 33.8 bn. to 31.7bn this September 2004,the FM has urged the Non Resident Indians to adopt a school or hospital and do the needful in developing the rural sector and thus helping the economy. Given to understand that the low rate of interest offered by the Indian banks are attracting less and less foreign Investment, the FM said the Indians living abroad, should take it upon their moral duty to develop their economy. The FM has said that in spite of the various natural and manmade calamities faced by India last year the economy is still doing well, and for the economy to really grow the Indians living abroad must contribute in the form of remittances and help in bringing about Balance of Payment parity in the economy. Also adding a note on his talk, the FM has said that the investment limit in the rural and urban sector as far as the property is concerned would soon be relaxed. Well as Indians we must realise our moral duties and bring about the improvement in the country by contributing to the various development activities of the economy.

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