Finance Minister P. Chidambaram today said that the Government has decided to allow PSUs to raise funds overseas.
He said that a longer-term NRI fund is also on the anvil. The Government is holding talks with a sovereign wealth fund. At the same time, the Government and RBI are also holding discussions to permit longer-term ECBs.
The Finance Minister has also expressed confidence that even without significant measures, forex flows will be $80 billion.