Budget 2019: KYC norms relaxation, other proposals for FPIs to boost economy: Experts

Reacting to the proposals, JMP Advisors Chairman Jairaj Purandare said, “In presenting the Budget, the government has taken due cognizance of the fact that FPI is a significant source of capital for the economy and hence, with a view to streamlining the KYC compliance process and to facilitate ease of doing business for FPIs, measures are being proposed to make the KYC process investor friendly.”

He further said that these are welcome measures, “aimed at promoting the much-required foreign investment in India, which in turn, will give a boost to job creation and growth in the economy.”