Question : SOVEREIGN WEALTH FUND



(a) whether the Union Government proposes to create a Soverign Wealth Fund;

(b) if so, the details thereof;

(c) the proposed size and mandate of the Soverign Wealth Fund;

(d) the comparative size, scale and nature of the fund with the SWF`s of China, Japan, South Korea, Saudi Arabia, Qatar, UAE, Oman, Barahain and Iran;

(e) whether the structure of the proposed Soverign Wealth Fund would be wholly Government owned or in the public private partnership mode;

(f) whether the proposed SWF also will fund private acquisitions and if so, the proposed terms thereof;

(g) whether the Government has plans put out a consultation paper in the public domain on this issue; and

(h) if so, the details thereof and if not the reasons therefor?

Answer given by the minister


MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)

(a) In the past, the Government had examined a proposal to create a Sovereign Fund of US $ 5 billion for financing acquisitions of companies abroad. However, it was decided not to pursue this proposal.

(b) Does not arise.

(c) Does not arise.

(J) Does not arise.

(e) Does not arise.

(f) Does not arise.

(g) Does not arise.

(h) Does not arise.