Liberalized Norms for ECB & Exports
In order to mitigate the current pressure on Rupee, the Government of India has taken widespread measures by way of liberalizing External Commercial Borrowing (ECB) norms for different sectors of the Indian economy i.e. infrastructure, civil aviation, telecom etc, this will faciltate access to cheaper sources of funds.Along with ECB, the Government has liberlized certain provisions related Export of goods and services.The necessary details has been provided below: I. Amendments in ECB Regulations ECB for low cost affordable housing scheme To mobilise demand in economically weaker section and low-income group category, the government has introduced low cost affordable housing scheme. In December, 2012, the Government of India, in order to promote the scheme, allowed to developers/ builders, housing finance companies and National Housing Bank to avail ECB to be invested under the scheme.