{"id":123381,"date":"2021-08-04T16:14:29","date_gmt":"2021-08-04T10:44:29","guid":{"rendered":"https:\/\/blog.forumias.com\/?page_id=123381"},"modified":"2021-08-04T16:14:29","modified_gmt":"2021-08-04T10:44:29","slug":"tarapore-committee","status":"publish","type":"page","link":"https:\/\/forumias.com\/blog\/tarapore-committee\/","title":{"rendered":"Tarapore Committee\u00a0"},"content":{"rendered":"<p><strong>About:<\/strong> Capital account convertibility (CAC) means that capital flows &#8211; flows of portfolio capital, direct investment flows, flows of borrowed funds and dividends and interest pay\u00acable on them &#8211; is freely convertible into foreign exchange and vice-versa at market determined exchange rate. <strong>The Tarapore Committee defined CAC as the freedom to convert local financial assets with foreign financial assets and vice-versa at market determined rates of exchange<\/strong> and mentioned the following as its benefits:<\/p>\n<ul style=\"list-style-type: disc\">\n<li>Availability of large funds to supplement domestic resources and thereby promote economic growth<\/li>\n<li>Improved access to international financial markets and reduction in cost of capital<\/li>\n<li>Incentive for Indians to acquire and hold international securities and assets<\/li>\n<li>Improvement of the financial system in the context of global competition<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>About: Capital account convertibility (CAC) means that capital flows &#8211; flows of portfolio capital, direct investment flows, flows of borrowed funds and dividends and interest pay\u00acable on them &#8211; is freely convertible into foreign exchange and vice-versa at market determined exchange rate. The Tarapore Committee defined CAC as the freedom to convert local financial assets&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/tarapore-committee\/\">Continue reading <span class=\"screen-reader-text\">Tarapore Committee\u00a0<\/span><\/a><\/p>\n","protected":false},"author":10314,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-123381","page","type-page","status-publish","hentry","entry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/123381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10314"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=123381"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/123381\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=123381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}