Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman

New Delhi: The government said it will soon hold discussions with representatives of foreign portfolio investors, amid continuing overseas fund outflow from the markets following the decision to impose surcharge on certain class of such investors.

Finance Minister Nirmala Sitharaman also said "nothing more" has been done on the proposed issuance of sovereign bonds apart from the announcement in the Union Budget.Economic Affairs Secretary Atanu Chakraborty would hold discussions with representatives of Foreign Portfolio Investors (FPIs) soon, the minister said.

"I am quite open to hear them out what they (FPIs) have to say," she added. On a question related to sovereign bonds, Sitharaman said "nothing more has been done" apart from the announcement in the Budget as the ministry was busy in dealing with three bills, including amendment to the Insolvency and Bankruptcy Code (IBC).The government has announced it would start raising a part of its gross borrowing programme from external markets in foreign currencies.India's sovereign external debt-to-GDP level is among the lowest globally at less than 5 per cent.

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