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?