Budget 2021 | Explained: What the proposed single Securities Markets Code means for investors and markets
Finance Minister Nirmala Sitharaman proposed merging some of the most important Acts that govern the capital markets and securities into one common code. What is the aim? What will be its impact? Read on. February 03, 2021 / 02:26 PM IST
Finance Minister Nirmala Sitharaman stands next to Minister of State for Finance and Corporate Affairs Anurag Thakur (L) as she leaves her office to present the Union Budget in the parliament in New Delhi on February 1. (File image: Reuters)
While presenting the Union Budget for the financial year 2021-22, Finance Minister Nirmala Sitharaman proposed merging some of the most important Acts that govern the capital markets and securities into one common code. So why has the government taken this decision and what does it mean for the capital markets or the investor community?
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Atmanirbhar
The government’s flagship economic policy of a self-reliant India got top billing in the budget. Nirmala Sitharaman’s dedicated Part-A of her speech to the policy, which is increasing in scope and coverage. Atmanirbhar has even been institutionalized in a new centrally-sponsored health scheme with an outlay of ₹64,180crore.
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Bad bank
There has been plenty of debate about the need for a “bad bank to take over the massive bad loans of public sector banks and then help dispose of the assets. The government has finally bitten the bullet, announcing an asset reconstruction and asset management company. RBI estimates 17.6% of public sector bank loans could go bad.
Budget 2021: State CMs divided over obvious party lines
The Chief Ministers of the states ruled by the Bharatiya Janata Party hailed the Budget, while the CMs of non-BJP ruled states called it “disappointing”. February 02, 2021 / 11:36 AM IST
Finance Minister Nirmala Sitharaman stands next to Minister of State for Finance and Corporate Affairs Anurag Thakur (L) as she leaves her office to present the Union Budget in the parliament in New Delhi on February 1. (File image: Reuters)
Finance Minister Nirmala Sitharaman presented the Budget for 2021-22 in Parliament on February 1. In the Budget, the minister proposed to increase spending on health care that promises extra help for weathering the COVID-19 pandemic.
Sitharaman meets President ahead of Union budget presentation ANI | Updated: Feb 01, 2021 10:03 IST
New Delhi [India], February 1 (ANI): Union Finance MinisterNirmala Sitharaman and her team met President Ram Nath Kovind before presenting her third budget on Monday.
She was accompanied by her deputy Anurag Thakur and other officials of the Finance Ministry.
With the Union Budget 2021-22 set to be delivered in paperless form for the first time, Sitharaman replaced the Swadeshi bahi khata and switched to a tablet.
Dressed in a red and cream colour saree, accompanied by Thakur and other officials from her ministry at North Block, the Finance Minister was seen carrying a tablet kept inside a red coloured cover with a golden coloured national emblem embossed on it.
Focus not only on increased budget allocation but implementation of schemes too, Tomar says
Union Agriculture Minister Narendra Singh Tomar
Government of India under the leadership of PM Narendra Modi is committed to working for the interest of farmers. Every year the focus is not only on increased budget allocation, but also the implementation of schemes. Feb 01, 2021 4:56 PM (IST) Posted by Nidhi Taneja Let down like never before : Chidambaram on Budget 2021
The Budget was a let down like never before. This Budget, like the previous one, will unravel sooner than you think. Feb 01, 2021 4:54 PM (IST) Posted by Nidhi Taneja
BJP President JP Nadda: Budget inclusive , dedicated to the welfare of all people of India