The government is reviewing the the External Commercial Borrowing (ECB) policy and is likely to relax the norms before the end of this year.
Gajendra Haldia, advisor to Planning Commission, today said that the relaxed ECB norms would definitely be for infrastructure sector and could include other sectors as well.
To improve liquidity and check depreciation of rupee, finance ministry in October relaxed norms to allow companies in the mining, exploration and refineries sectors to bring in up to $500 million in external commercial borrowing (ECB) to the country for rupee expenditure. The earlier limit was $50 million.
