It is nearly time for another Budget and new policy announcements by the government. For speeding up economic growth, we may think in terms of a few grand policies or a hundred small steps. Here I take the latter approach and consider just one policy. There is a need to remove barriers to entry in businesses. I will confine myself here to the entry barriers for new asset management companies (AMCs).
Mutual funds are run by AMCs. At present, in India such AMCs are required to have a minimum capital of Rs 50 crore (there are other restrictions as well).
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