$50-bn sovereign fund on the way

FISCAL FRONTIER ■ The proposed 'Bharat Sovereign Wealth Fund' targets energy, minerals, technology sectors ■ Aim is to create non-tax income through global diversified investments portfolio ■ Fund to support socio- economic programmes and long-term fiscal stability ■ Initial capital to come from asset monetisation and efficiency gains ■ Inspired by Singapore's Temasek, delivering 14% annualised long-term returns

- PRASANTA SAHU

THE GOVERNMENT HAS started examining the feasibility of establishing a large sovereign wealth fund (SWF) for India. The idea is to create a robust and permanent stream of revenue to the exchequer other than tax receipts, by way of returns from SWF's diversified investments abroad.