overriding expectation from this budget is that it
will make India a more attractive place for foreign
investment and business than countries like China,
Thailand and Indonesia which are now the preferred
destinations for foreign investors. How can the finance
minister handle this? I can think of three measures.
announcement on exit policy is very necessary. It
can bring about a dramatic change in the perception
the exit policy should be accompanied by a safety
net. There must be a greater transparency in the actual
implementation of guidelines on foreign investment.
Some steps towards de-bureaucratisation are essential.
Finally, the rupee should become convertible on capital
account. This need not be done at one stroke but could
be spread over, say, the next three years. But the
momentum should come fro this budget.