Income-Tax Slabs Remain Unchanged; IT Relief For Senior Citizens Above 75 Years : Budget 2021 Highlights livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.
Explore Now
All three markets – equity, currency and bonds – have given one of the highest post-Budget thumbs up. While this was primarily because of the many changes proposed going forward, it is also because of a host of changes which did not find place in the Budget and would have been dampeners.
It is indeed a carefully thought through and meticulous Budget, envisioning solutions for a number of major issues. It is also aggressive in its approach of funding through one of the highest fiscal deficits and non-tax revenues rather than through increased taxes. The government has followed a consultative approach as a number of suggestions made by various industry forums over time have found acceptance in this Budget.
Highlights
Budget went paperless this time.
Budget session will be held in two phases Jan 29 to Feb 15 and March 8 to April 8.
New Delhi: Finance Minister Nirmala Sitharaman while presenting the Union Budget 2021-22 in Parliament on Monday announced that the government will consolidate the provisions of SEBI Act, 1992, Depositories Act, 1996, Securities Contracts (Regulation) Act, 1956 and Government Securities Act, 2007 into a rationalissed single Securities Markets Code.
The Government will support the development of a world class Fin-Tech hub at the GIFT-IFSC.
In order to instil confidence amongst the participants in the Corporate Bond Market during times of stress and to generally enhance secondary market liquidity, Union Budget 2021-22 proposes to create a permanent institutional framework. The proposed body would purchase investment grade debt securities both in stressed and normal times and help in the development of the Bond Market.
Budget 2021 | Government takes the Budget route to give SEBI more teeth
On Monday, Finance Minister Nirmala Sitharaman unveiled her policies for ‘Financial Capital’ with a big-bang announcement related to SEBI.
SEBI headquarters (Representative image)
For the top honchos of the Securities and Exchange Board of India (SEBI), listening to the Union Budget is not only about knowing the government’s thinking on important policies related to the various aspects of the economy like finance, health, infrastructure, and agriculture among other things but also about the capital market regulator’s own jurisdiction, powers, and new initiatives.
The government seems to have taken a special liking for the Mumbai-based watchdog to ensure that there is at least one major announcement in the Budget related to the regulator that monitors key sections of the capital market like equities, commodities, and currencies, along with a vast number of mutual funds and foreign investors.
1:00 PM, February 1: Finance Minister Nirmala Sitharaman has concluded her Union Budget speech. We will be posting in depth stories on all things technology, startups and digital from the Budget over the course of the day. Stay tuned! 12:54 PM, February 1: Withdrawing exemptions in mobile manufacturing: Domestic electronic manufacture has grown rapidly, we […]