opensansad/lok-sabha-qa huggingface dataset:
Lok Sabha Question No. 4987 (UNSTARRED), answered on 2016-12-16
Subject: Merger of Private Banks
Ministry: FINANCE
Asked by: ELUMALAI VELLAIGOUNDER

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION NO.4987

TO BE ANSWERED ON THE 16 th  December, 2016/ Agrahayana 25, 1938 (SAKA)

## Merger of Private Banks QUESTION

## 4987.  SHRI V. ELUMALAI:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Reserve Bank of India has issued master direction for the merger of private sector banks;
- (b) if so, the details thereof;
- (c) whether the decision of merger should be approved by the respective bank boards by two thirds majority and not just by members present and voting; and
- (d) if so, the details thereof and the action taken by the Government in this regard?

## ANSWER

The Minister of State in the Ministry of Finance (SHRI SANTOSH KUMAR GANGWAR)

- (a) & (b):  Reserve Bank of India (RBI) has issued Master Direction on Amalgamation of Private  Sector  Banks  on  April  21,  2016,  which  is  available  in  public  domain  of  RBI's website. (c)  to  (d):  (i)    The  Reserve  Bank  has  discretionary  powers  to  approve  the  voluntary amalgamation of  two  banking  companies  under  the  provisions  of  Section  44A  of  the Banking Regulation Act, 1949. (ii)   In terms of Section 44A of the Banking Regulation Act, 1949, the draft scheme of amalgamation has to be approved by the shareholders of each banking company by a resolution  passed  by  a  majority  in  number  representing  two-thirds  in  value  of  the shareholders, present in person or by proxy at a meeting called for the purpose. (iii)   Ceiling on voting rights under section 12(2) would apply in the context of section 44A,  when  there  is  a  poll,  to  determine  whether  the  resolution  has  been  passed  by required majority. (iv) Before  convening  the  meeting  for  the  purpose  of  obtaining  the  shareholders' approval,  the  draft  scheme  of  amalgamation  shall  be  approved  by  the  Boards  of Directors of the two banking companies separately. (v)      Further,  in  terms  of  Section  44A  of  the  Banking  Regulation  Act,  1949,  after  the scheme  of  amalgamation  is  approved  by  the  requisite  majority  of  shareholders  in accordance with the provisions of the Section, it shall be submitted to the Reserve Bank
- for sanction.

*******
Lok Sabha Question No. 4986 (UNSTARRED), answered on 2016-12-16
Subject: SEBI
Ministry: FINANCE
Asked by: SUNIL KUMAR MONDAL

.

## GOVERT{MET{T OF INDIA IVIIhI ISTRY  OF FINAI-JCE DEPAR'| METIT OF ECOh]OMIC AF'FAIITS

## LOK SABHA UNSTARRED  QUESTION  NO. 4986 To BE ANSwERED  oN FRIDAY, t6'h DECEMBER, z0t6tAGRAHAYANA  25', 1938 (Saka)

SEBI

## OUESTION

## 4986. SHRI SUNIL KUMAR MONDAL:

## Will the Minister  of FINANCE

be pleased to state the details of the companies/organisations blacklisted by Securities and Exchange Board of India (SEBI)  during last three years and current  year?

## ANSWER

## MII\ISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ARJUN RAM MEGHWAL)

The Securities  and Exchange  Board ol-lndia (SEBI) has infonned  that it does not blacklist companies  / organizations.  However,  SEBI may issue directions or prohibitive orders such as debarment from accessing the securities  market or from dealing in securities. Further,  while exercising  powers under Sections 11. llB or llD of the SEBI Act. 1992, SEBI issues  directions  restraining/prohibiting  entities fronr doing certain  activlties  or directing  the concerned errtities to act in a particular  mallner in the interest of investors and tlre securities  market.  The nurnber of such orders  passed by SEBI in the last three financial  years are as below:

| FinarTcial y'ear   | No..of'Orders   |
|--------------------|-----------------|
| 2015-16            | 257             |
| 2014-t5            | r3l             |
| 20 l3-1,4          | 262             |

::{r

*  ;F  dt:F
Lok Sabha Question No. 4985 (UNSTARRED), answered on 2016-12-16
Subject: Change of Financial Year
Ministry: FINANCE
Asked by: C. N. JAYADEVAN

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA UNSTARRED QUESTION No.4985

## TO BE ANSWERED ON FRIDAY,16 TH DECEMBER, 2016 [25Agrahayana, 1938 (SAKA)]

## CHANGE OF FINANCIAL YEAR

## QUESTION

## US 4985. SHRI C.N. JAYADEVAN:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government is considering to change the financial year from April-March to January-December; and
- (b) if so, the details and the reasons therefor?

## ANSWER MINISTER OF STATE FOR FINANCE (SHRI ARJUN RAM MEGHWAL)

(a)&(b)  The  Government  has  constituted  a  Committee  to  examine  the  desirability  and feasibility of having 'a new financial year'.  The terms of reference for the Committee are enclosed at Annexure.  The report of the Committee is yet to be submitted.

***

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Lok Sabha Question No. 4984 (UNSTARRED), answered on 2016-12-16
Subject: Revenue Collection
Ministry: FINANCE
Asked by: CHINTAMAN NAVSHA WANAGA

## Government of India Ministry of Finance Department of Revenue

## LOK SABHA UNSTARRED QUESTION NO. 4984

TO BE ANSWERED ON FRIDAY, DECEMBER 16 2016 AGRAHAYANA 25, 1938 (SAKA)

## REVENUE COLLECTION

## 4984: ADV, CHINTAMAN NAVASHA WANAGA:

Will the Minister of FINANCE be pleased to state:

- (a) whether  local bodies  viz. Municipal  Corporation,  Municipal  Council  and  other Government institutions collected lot of cash revenue through tax collection because of currency demonetisation; and
- (b) if so, the details thereof?

## ANSWER MINISTER OF STATE IN THE MINISTRY OF FINANCE (SANTOSH KUMAR GANGWAR)

(a)  &  (b):  Direct  Taxes  are  collected  by  the  authorized  banks  through  various  modes including cash, cheque and e-payment/net banking. It is not ascertainable as to what part of the tax revenue collected can be attributed to currency demonetisation.

Further,  the  payment  of  Indirect  Taxes  has  not  been  authorized  by  cash  after demonetization of high value currency notes.

No such data is maintained centrally.

- *****
Lok Sabha Question No. 4983 (UNSTARRED), answered on 2016-12-16
Subject: Construction of Toilets in Anganwadis
Ministry: WOMEN AND CHILD DEVELOPMENT
Asked by: ADVOCATE NARENDRA KESHAV SAWAIKAR

## GOVERNMENT OF INDIA MINISTRY OF WOMEN AND CHILD DEVELOPMENT

## LOK SABHA UN-STARRED QUESTION No.4983

TO BE ANSWERED ON 16.12.2016

## CONSTRUCTION OF TOILETS IN ANGANWADIS

## 4983.        ADV. NARENDRA KESHAV SAWAIKAR:

Will the Minister of WOMEN AND CHILD DEVELOPMENT be pleased to state:

- (a) whether  the  latest  Swachh  Status  Report  of  National  Sample  Survey  Organisation (NSSO)  has  revealed  that  there  is  a  sharp  decline  in  the  construction  of  toilets  in anganwadis during 2015-16 as compared to the previous year;
- (b) if so, the details thereof and the reasons therefor;
- (c) the  details  of  target  fixed  for  the  year  and  the  actual  achievements  made  in  this regard; and
- (d) the further measures taken by the Government to achieve the target in this regard ?

## ANSWER

## MINISTER OF WOMEN AND CHILD DEVELOPMENT (SHRIMATI MANEKA SANJAY GANDHI)

- (a) to (d) : There are 14 lakhs sanctioned anganwadi centres (AWCs) in the country out of which  13.49  lakhs  AWCs  are  operational  as  on  30.09.2016.  The  details  of  the  toilets constructed  in  anganwadi  centre  during  2014-15  and  2015-16  as  per  Swachhta  Status Report of National Sample Survey Office (NSSO), 2016 and as per ICDS-MIS data are as under :

| Year    | Number of toilets in anganwadi constructed as per NSSO report   | Number of toilets in Anganwadi constructed as per ICDS data   |
|---------|-----------------------------------------------------------------|---------------------------------------------------------------|
| 2014-15 | 8377                                                            | 8377                                                          |
| 2015-16 | 1337 (up to 29.02.2016)                                         | 13778 (up to 31.03.2016)                                      |

Ministry  of  Women  and  Child  Development  in  convergence  with  Ministry  of  Rural Development  and  Panchayati  Raj  Institutions  has  formulated  action  plan  to  construct  4  lakhs AWC buildings with child friendly toilets in the next 4 years i.e. up to 2019 under MGNREGA. During  2015-16  and  2016-17,  29941  AWC  buildings  and  59619  AWC  buildings  (including toilets) respectively were approved for construction.

******
Lok Sabha Question No. 4981 (UNSTARRED), answered on 2016-12-16
Subject: Special Courts
Ministry: CORPORATE AFFAIRS
Asked by: DUSHYANT CHAUTALA, VINOD KUMAR BOIANAPALLI

THE MINISTER OF STATE

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS

## LOK SABHA UNSTARRED QUESTION NO. 4981 ANSWERED ON FRIDAY, THE 16th DECEMBER, 2016 AGRAHAYANA 25, 1938 (SAKA)

## SPECIAL COURTS

## QUESTION

4981.  SHRI DUSHYANT CHAUTALA: SHRI B. VINOD KUMAR:

Will the Minister of CORPORATE AFFAIRS be pleased to state:

कारपोरेट कार्य मंत्री

- (a) whether the Government has designated eight special courts in the country for the speedy justice delivery of corporate cases and if so, the details and the location of such courts thereof;
- (b) whether the said courts have started functioning and if so, the details thereof and if not, the reasons therefor;
- (c) whether the Government proposes to increase the number of such courts in the country and if so, the details thereof and the total number of courts that have been mandated by the Companies Act, 2013 and the shortfall in the number of such
- courts as on date;
- (d)  the  details  of  number  of  cases  solved/pending  in  the  said  special  courts, Court/State/UT-wise; and
- (e) the details of other measures taken/being taken by the Government to address the issue and expedite disposal of pending cases?

## ANSWER

(SHRI ARJUN RAM MEGHWAL)

IN THE MINISTRY OF CORPORATE AFFAIRS

कारपोरेट कार्ु मंत्रालर् में राज्र् मंत्री

(a) to (e):- Government has designated 19 existing courts of Sessions/Additional Sessions Courts as Special Courts under Section 435 of the Companies Act, 2013 (the Act).  These courts are in the states of Jammu and Kashmir, Maharashtra, Goa, Gujarat, Madhya Pradesh, West Bengal, Chhattisgarh, Rajasthan, Punjab, Haryana, Meghalaya,  Tamil  Nadu  (Coimbatore)  and  Manipur,  NCT  of  Delhi  and  the  Union Territories of Puducherry, Dadra and Nagar Haveli, Daman and Diu, Andaman and Nicobar Islands and Chandigarh.  Section 435 requires concurrence of the Chief Justice of the jurisdictional High Court for designating a Special Court. Concurrence has not been given for the states of Uttarakhand, Himachal Pradesh, Jharkhand and Karnataka for designating Special Courts.  For the states of Assam,

( श्री अर्जुन राम मेघवाल )

Andhra  Pradesh,  Tripura,  Kerala,  Telangana,  Bihar,  Tamil  Nadu  (Chennai),  the proposal to designate Special Courts is under consideration.  One case each under the Act is pending in the Special Court in Madhya Pradesh and Delhi. ********
Lok Sabha Question No. 4979 (UNSTARRED), answered on 2016-12-16
Subject: Research and Development in the Field of Medicines
Ministry: HEALTH AND FAMILY WELFARE
Asked by: SHRIKANT EKNATH SHINDE, SHIVAJI ADHALRAO PATIL, ANANDRAO  ADSUL, DHARMENDRA YADAV, RAHUL RAMESH SHEWALE

## GOVERNMENT OF INDIA MINISTRY OF HEALTH AND FAMILY WELFARE DEPARTMENT OF HEALTH RESEARCH

## LOK SABHA UNSTARRED QUESTION NO. 4979 TO BE ANSWERED ON 16 TH DECEMBER , 2016

## RESEARCH AND DEVELOP MENT IN THE FIELD OF MEDICINES

4979. DR. SHRIKANT EKNATH SHINDE: SHRI ADHALRAO PATIL SHIVAJIRAO: SHRI ANANDRAO ADSUL: SHRI DHARMENDRA YADAV: SHRI RAHUL SHEWALE:

Will the Minister of HEALTH AND FAMILY WELFARE be pleased to state:

(a)  whether  the  country  is  lagging behind  in  the  research  and  development  of medicines especially in regenerative medicines;

(b) if so, the details thereof and measures taken up by the Government to boost research and development to meet the global standards;

(c)  the  steps  taken  up  to  pace  up  clinical trials  and  regulatory  requirements  in the field  of medicines; and

(d)  the  targets  set  and  goals  achieved  in this  regard  along  with  funds  allocated  for the  same during the last three years?

## ANSWER THE MINISTER OF STATE IN THE MINISTRY OF HEALTH AND FAMILY WELFARE

(SMT. ANUPRIYA PATEL )

(a) &(b): No. Research activities in the field of regenerative medicines in the count being  supported  by  various  agencies  like  Indian  Council  of  Medical  Research  (ICMR Department of Bio - Technology, Department of Science & Technology and Council for Sci entific and Industrial Research, etc. ICMR has been promoting research activities in the form of -investigators initiated projects, fellowships and Task Force activities.

(c)& (d): Council of Scientific and Industrial Research (CSIR) has been pursu ing Research & Development activities in the domain of drugs and pharmaceuticals with focus on afford healthcare which include understanding the disease biology; disease diagnostics; drug dis and development; high end chemistry based process deve lopment for generic drugs and creating innovative  platforms  for  enhancing  the  innovation  in  the  domain.  The  disease  areas  co include  tuberculosis,  malaria,  leishmania,  cancer,  diabetes,  neurodegenerative  disease fracture, reproductive dysfuncti on and contraceptives. CSIR efforts are for preventive health an disease  management,  development  of  next  generation  bio - therapeutics,  understanding  the mechanism of complex diseases, system based drug design, stem cell biology and regenera medicine an d understanding bio -energetic disorders. ICMR has established centre for Advanced Research at Government Stanley Medical College, Chennai for Hepatocyte progenitor isolat characterization and transplantation in liver diseases.

ICMR  in  collaboration  with Department  of  Bio - Technology  has  formulated  National Guidelines for Stem Cell Research to conduct research in scientific and ethical manner.

Details regarding funds allocated for the same is not available.
Lok Sabha Question No. 4978 (UNSTARRED), answered on 2016-12-16
Subject: Soldiers at Siachen Glacier
Ministry: DEFENCE
Asked by: KONDA VISHWESHWAR REDDY, SRINIVAS KESINENI

## GOVERNMENT OF INDIA MINISTRY OF DEFENCE DEPARTMENT OF DEFENCE

## LOK  SABHA

## UNSTARRED QUESTION NO.4978

TO BE ANSWERED ON THE 16 TH  DECEMBER, 2016

## SOLDIERS AT SIACHEN GLACIER

4978.  SHRI  KONDA VISHWESHWAR REDDY: SHRI KESINENI NANI:

Will the Minister of DEFENCE j{kk ea=h be pleased to state:

- (a) whether a number of soldiers deployed at Siachen Glacier have lost their lives and if so, the details thereof;
- (b) whether the cost of maintaining troop presence at the glacier is very high and if so, the details thereof indicating the strategic importance of the glacier; and
- (c) whether the Government has taken steps to resolve territorial disputes pertaining to Siachen glacier with Pakistan and if so, the details thereof?

## A    N    S    W    E    R

MINISTER OF STATE

IN THE MINISTRY OF DEFENCE

र  ा रा य मं ी

(DR. SUBHASH BHAMRE)

( डा . सुभाष भामरे )

- (a) During  the  year  2016,  01  officer  and  18  junior  commissioner officers / other ranks have lost their lives in Siachen Glacier.
- (b) The Siachen Glacier was occupied by Indian Army in April 1984 to pre-empt  the  efforts  of  Pakistan  to  occupy  the  Glacier.    The  cost  of maintaining  troops  there  is  necessary  in  national  interest  keeping  in view the strategic importance of the Siachen Glacier.
- (c) Thirteen rounds of talks to resolve the Siachen issue have already taken place between Government of India and Pakistan led by respective Defence Secretaries.  Indian Government has made it clear to Pakistan that the solution of Siachen Glacier is part of a larger issue to include Pakistan's continued support to terrorism in India.

*******
Lok Sabha Question No. 4976 (UNSTARRED), answered on 2016-12-16
Subject: Negotiable Instruments Act
Ministry: FINANCE
Asked by: VINAYAK BHAURAO RAUT, Shrirang Appa Barne

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION NO. 4976 TO BE ANSWERED ON DECEMBER 16, 2016/AGRAHAYANA 25, 1938 (SAKA) NEGOTIABLE INSTRUMENTS ACT

## 4976.  SHRI VINAYAK BHAURAO RAUT: SHRI SHRIRANG APPA BARNE:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Union Government has decided to make instrument of cheque more stronger especially after demonetisation by blocking the amount of cheque in the drawer's account and making amendments in Sec. 138 of Negotiable Instruments Act for heavy penalty; and
- (b) if so, the details thereof?

## ANSWER THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SANTOSH KUMAR GANGWAR)

- (a) and (b): No, Sir. There is no such proposal under consideration of the Government.

***
Lok Sabha Question No. 4975 (UNSTARRED), answered on 2016-12-16
Subject: Shortage of Pharmacists
Ministry: HEALTH AND FAMILY WELFARE
Asked by: ANANDRAO  ADSUL, Shrirang Appa Barne, SHIVAJI ADHALRAO PATIL, DHARMENDRA YADAV

## GOVERNMENT OF INDIA MINISTRY OF HEALTH AND FAMILY WELFARE DEPARTMENT OF HEALTH AND FAMILY WELFARE

## LOK SABHA UNSTARRED QUESTION NO. 4975 TO BE ANSWERED ON 16 TH DECEMBER , 2016

## SHORTAGE OF PHARMACI STS

## 4975. SHRI ANANDRAO ADSUL:

SHRI SHRIRANG APPA BARNE:

SHRI ADHALRAO PATIL SHIVAJIRAO:

SHRI DHARMENDRA YADAV:

Will the Minister of HEALTH AND FAMILY WELFARE be pleased to state:

- (a)  whether  there  is  shortage  of pharmacists in  the country, if so, the details thereof and the reasons therefor;
- (b)whether there is any proposal to train people who have qualifications like B.Sc. in Chemistry, Biology etc., in handling medicines through the module developed by Healthcare Sector Skill Council;
- (c) if so, whether the Government has reque ted the several Pharmacists' associations, to jointly work  on  a  module to  develop  the  skill  of  unqualified  people having  more  than  5  years  of experience in dispensing drugs under a pharmacist;
- (d) if so, the details thereof along with the response received thereon; and
- (e) whether the Government has any plan to launch any course for unqualified people involved in dispensing medicines, if so, the details thereof and if not, the reas ns refor?

## ANSWER THE MINISTER OF STATE IN THE MINISTRY OF HEALTH AND FAMILY WELFARE (SHRI FAGGAN SINGH KULASTE)

- (a) : There is no shortage of pharmacists in the country.

At present ,there are approx.7.5 lakhs registered pharmacists in the country and ann intake capacity of Pharmacy Institutions in various pharmacy courses is approx 1.36 lakhs per annum.

- (b)to(e) : The  Ministry  of  Health  &  Family  Welfare  has  signed  an  agreement  with  the Ministry of Skill Development and Entrepreneurship to conduct Skill Training programs fo identified Qualification Packs with National Occupational S tandards (QP -NOS).

As a part of this agreement, Healthcare Sector Skill Council (HSSC) has develope Qualification Pack - National Occupational Standards (QP - NOS) of Pharmacy Assistant whose role is to work under direct supervision of a registered Pharma cist.
Lok Sabha Question No. 4974 (UNSTARRED), answered on 2016-12-16
Subject: Promotion of Regional Languages in Banks
Ministry: FINANCE
Asked by: VINOD CHAVDA, DIPSINH SHANKARSINH RATHOD

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## UNSTARRED QUESTION No.

## LOK SABHA 4974

TO BE ANSWERED ON DECEMBER 1938 16th

## Promotion of Regional Languages in Banks

2016 (FRIDAYJAGRAHAYANA 25, (SAKA)

4974. SHRI VINOD LAKHAMASHI CHAVDA SHRI D.S. RATHOD:

Will the Minister of FINANCE be pleased to state:

- a) whether the Government is planning to promote the regional languages in banking sector for the ease of understanding for rural population; and
- b) if so, the details thereof?

The Minister of State in the Ministry of Finance

## Answer

(SHRI SANTOSH KUMAR GANGWAR)

- (a) and (b) Reserve Bank of India has, inter alia issued following instructions to promote the   regional languages in banking sector for the ease of   understanding for rural population:
- Displaying indicator boards at all the counters in English Hindi as well as in the concerned regional   language. Business posters at semi-urban and rural branches of banks should also be in the concerned regional languages.
- Providing customers with booklets consisting of all details of service and facilities available at the bank in Hindi, English and the concerned regional languages.
- Use of Hindi and regional languages in transacting business by banks with customers, including communications to customers.
- IV\_ In order to ensure that banking facilities percolate to the vast sections of the population, banks should make available all printed material customers including account opening forms, pay-in-slips , passbooks etc. , in trilingual form i.e. English, Hindi and the concerned Regional Language:
- All cheque forms should be printed in Hindi and English: The customer, however, write cheques in Hindi, English or in the concerned regional language. may
Lok Sabha Question No. 4972 (UNSTARRED), answered on 2016-12-16
Subject: Rupee Devaluation and Capital Outflow
Ministry: FINANCE
Asked by: T. RADHAKRISHNAN, KUNWAR HARIBANSH SINGH, SUDHEER GUPTA, SUNIL BALIRAM GAIKWAD, BIDYUT BARAN MAHATO, GAJANAN CHANDRAKANT KIRTIKAR

- (a) whether the Government is aware that rupee has collapsed to new recent low against the dollar and the highest foreign capital outflow from the country after the recent result of presidential election of United States of America (USA) and if so, the details thereof;
- (b) whether the fall in rupee and foreign capital outflow have impacted the imports and equity market of the country; and
- (c) if so, the details thereof and the steps taken/being taken by the Government thereon?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ARJUN RAM MEGHWAL)

(a) to (c)  The result of the US presidential election and improving prospects of the US economy has impacted the international  financial  markets.  Consequently,  there  has  been  capital  flows  into  US  leading  to  hardening  of  US yields. This has resulted in bouts of volatility in the financial markets of Emerging Market Economies (EMEs) due to capital outflows leading to sharp depreciation in their currencies and fall in equity prices. In the Indian case, BSE Sensex fell only for 10 days from the high of 27,517.68 on November 10, 2016 to a low of 25,765.14 on November 21,  2016.  However,  it  later  bounced  back  and  closed  the  month  at  26,652.81  on  November  30,  2016.  The strengthening of the US dollar from late October 2016 intensified after the election results and triggered sizeable depreciations in currencies around the world, including Euro, Yen and most of the EME currencies including the Indian Rupee. However, the performance of the Indian Rupee has been relatively better vis-à-vis most of the EME currencies. The rupee which stood at 66.62 on November 8, 2016 touched an intra-day low of 68.86 per US dollar on November 24, 2016, a depreciation of 3.3 per cent. However the rupee has recovered since then and stood at 67.34 on December 8, 2016. The net foreign portfolio outflows from Indian equities and debt markets, which began in October 2016, has now stabilized. The fundamentals of the Indian economy continue to be strong though there could be some volatility in the short term. This is also reflected in the increase in the Net Foreign Direct Investment (FDI) inflows to the tune of US$ 16.7 billion during 2016-17 (up to September 2016) on top of US$ 36.0 billion during the  fiscal  year  2015-16,  reflecting  strong  fundamentals  and  good  growth  prospects  of  the  Indian  economy.  The Government  continues  to  monitor  the  evolving  situation  on  the  exchange  rate  front  and  stands  ready  to  take appropriate steps to bring stability to the forex market in case of excessive volatility in the forex market.

*****