The government has set up an expert committee, headed by former SEBI Chairman Meleveetil Damodaran, to suggest appropriate measures to address regulatory and other issues, so that investments by venture capital and private equity investors can be scaled up.
The six-member committee has been set up in accordance with the announcement made by Finance Minister Nirmala Sitharaman in her 2022-23 budget speech, to shore up investments by private equity and venture capital firms.
According to the terms of reference of the committee, it would study measures through which investments in India can be accelerated.
It will also review compliances to accelerate growth of alternative capital for participation in the venture capital and private equity industry.
The panel will also suggest measures to further accelerate investments in start-ups and sunrise sectors.
In addition to this, it will also suggest forward looking measures and future ready regulatory practices, in addition to studying and emulating global best practices.
Other members of the committee include G. Mahalingam, former whole-time member of SEBI, Nagendra Kumar, former member (GST) in the Central Board of Indirect Taxes and Customs, former Principal Chief Commissioner of Income Tax Ashish Verma, Director General of National Council of Applied Economic Research (NCAER) Poonam Gupta, and AJNIFM Director Prabhat Ranjan Acharya.