Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: TDS :: list of goods taxed at 4%
 
 
General »
 Consumer goods distributors, wholesalers to bear the brunt of GST
 GST classification woes to continue
 There will be no tax on farm or agriculture income
 RBI, Income Tax Acts to be amended for electoral bonds, Jaitley says
  Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 I-T zeroes in on Mumbai trader in first crackdown after demonetisation
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 Income Tax Department Failed To Unearth Black Money Despite Information
 Govt filing twice as many cases as private cos in Supreme Court
 Taxes under GST 'to increase a bit', says CBEC Chairman
 Google Tax could soon make even downloading apps on your smartphone a costly affair!

WB commissions Ernst & Young to prepare roadmap for corporate debt mkt
May, 09th 2011

The World Bank has commissioned financial consultancy major Ernst & Young (E&Y) India to draw up a roadmap on the corporate debt market that the Indian government is mulling to part-fund the $1-trillion infra investment required by the country over the next five years.

The study is being sponsored by the Finance Ministry and capital markets watchdog Sebi and is funded by the World Bank, a person familiar with the development told PTI here.

The source also said E&Y signed the contract for the project in late April and would have to submit the report within six months. However, an E&Y spokesperson refused to confirm, citing client confidentiality.

According to a Boston Consultancy Group forecast, the domestic debt market could grow four-fold from about $400 billion, or 45% of the GDP in 2006, to about $1.8 trillion, or 55% of the GDP, by 2016. Within this, the non-government segment could grow nearly six-fold, from $100 billion in 2006 to $575 billion in 2016.

In the absence of a developed retail market, companies do not have any incentive to hit the debt market to raise capital, though this mode of fund raising is cheaper than bank funding.

According to the industry, fragmented regulatory jurisdictions and a common perception that various authorities are working at cross-purposes hinder the growth of a corporate bond market.

However, Reserve Bank Deputy Governor Subir Gokarn had recently allayed any such fears, saying developing a vibrant corporate debt market is a complicated process and all the regulators and finance ministry are earnestly involved in the process and are working in tandem.

"I would like to state that there is no confusion regarding the role of each regulator in this process as we are all working in tandem," Gokarn told a Ficci meet on the topic.

At the same venue, Tata Sons Finance Director Ishaat Hussain, who is a member in the Sebi panel on the corporate debt market, had said, "At our discussions on this with Sebi, the overriding impression that we get from Sebi is that it is not sure about the role it has in the entire exercise."

The government, which is targeting a $1 trillion, or Rs 45 lakh crore, infra investment over the next five years as part of its double-digit growth trajectory push, has been working with the regulators, primarily Sebi and the RBI, to iron out any inter-regulatory issues on this front for quite some time now.

In this regard, commissioning of E&Y India to prepare a roadmap for the corporate debt market is one of the last steps for policy action on the ground.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions