Share your ideas for Implementation of Budget Initiatives for the Financial Sector

Last Date Mar 31,2021 23:45 PM IST (GMT +5.30 Hrs)
Submission Closed.

The Hon’ble Prime Minister Shri Narendra Modi will address the webinar on effective implementation of the Union Budget provisions in the Financial sector on 26th February 2021. ...

The Hon’ble Prime Minister Shri Narendra Modi will address the webinar on effective implementation of the Union Budget provisions in the Financial sector on 26th February 2021.

The key announcements in the Union Budget related to Financial Sector are as follows and we seek ideas and suggestions from the public and other stakeholders on the same:

• Fiscal deficit stands at 9.5% of the GDP; estimated to be 6.8% in 2021-22
• Proposal to allow States to raise borrowings up to 4% of GSDP this year
• A Unified Securities Market Code to be created, consolidating provisions of the Sebi Act, Depositories Act, and two other laws
• Proposal to increase FDI limit from 49% to 74%
• An asset reconstruction company will be set up to take over stressed loans
• Deposit insurance increased from Rs 1 lakh to Rs 5 lakh for bank depositors
• Proposal to decriminalise Limited Liability Partnership Act of 2008
• Two PSU bank and one general insurance firm to be disinvested this year
• An IPO of LIC to debut this fiscal
• Strategic sale of BPCL, IDBI Bank, Air India to be completed

Last date of submission will be 31st March 2021

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Vinayak Shankarrao Khare 5 months 3 weeks ago

R/Sir, SSS int rates are reduced from Apr2021. Shows total apathy towards middle class sr citizens dependent on int income. Sir person retired in Apr 16 from pvt firm & invested his life earnings say ₹ 27 lacs in SCSS/MIS/vay vandana policy was getting ₹ 224100 interest p.a. barely sufficient to live on. Todays on reinvestment, he will get ₹ 30000 less with 25% inflation in 5 years. Without any social security scheme, market linked rates are detrimental for sr citizens. Pl reconsider decision.