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Tuesday, April 24, 2007

Kelkar on MIFC

Vijay Kelkar, the other civil servant extraordinaire - most quoted is, the well deserved, E. Sreedharan - writes about the benefits of MIFC, in Indian Express. The article is lucid and explains the big picture impact of a world class financial center in the country.

The MIFC report gives us a game plan for obtaining a world class, globally competitive financial system. This is useful because we make money on exporting financial services. But the real importance lies in accelerating GDP growth. In my view, the implementation of this report alone will add roughly 2 percentage points to India’s growth.[Bombay Plan 2007 - IE]