Report on India's recent budget and some cheer for financial sector.
Summary and analysis of India’s budget, which indicated positive moves that would support the financial sector. Higher FDI in insurance was by far the biggest announcement but encouraging moves also in other areas, including development of the corporate bond market, infrastructure financing and Real Estate Investment Trusts (REITS). Liberalisation of the depository receipt regime will aid overseas listings. More flexible transfer pricing regulation will also benefit UK investments.