Though it is likely gross domestic capital formation increased in the quarter ended June, against declines in the previous two quarters, a significant revival in investment might take a few quarters more, economists say.

The ministry is likely to go by the recommendations of a committee on liberalising external commercial borrowings, headed by M S Sahoo, a former director with the Securities and Exchange Board of India.

The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.