It includes liberalisation of External Commercial Borrowings policy and portfolio investment norms

It recovered 29 paise to trade at Rs 54.20 against dollar in the late morning trade on Thursday

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It jumped up by 0.44 per cent from March mainly due to increase in prices of food items and manufactured products

Due to poor show of manufacturing and mining sectors, it went down for the first time since October 2011 when it shrank b y 4,7 per cent

As a first move to prop up the battered currency, the RBI has asked the exporters to convert at least half of their foreign exchange holding in rupee

The fund will be utilised for promoting innovation, R&D and commercialisation of products in the IT sector

The government is trying to increase exports to Latin American countries, Africa and other countries to achieve the target

In the current fiscal the country aims to bring down subsidies to below two per cent of the Gross Domestic Product

For this it was considering setting up a fund similar to a sovereign wealth fund