Comments
Expectations have been high from the new Finance Minister since the Government took charge in the last week of May.
He has given reasonable attention to the capital markets. His proposals of selling bank shares to retail investors will go a long way in improving market infrastructure and sentiment. The BSE had requested for an SME fund of ₹6,000 crore. The Minister has not only accepted our request, but also enhanced it to ₹10,000 crore. Proposals to create infrastructure projects using public-private-partnership model is most welcome and can kick-start infrastructure creation in a short time.
He has also highlighted his focus areas in the capital markets, including deepening of currency derivatives and corporate bond market and revamping, including extending 5 per cent withholding tax to all corporate bonds. Revamping of Indian Depository Receipts into a more exhaustive Bharat Depository Receipts is another welcome measure.
Uniform KYC across the financial sector and a single demat account for holding all asset classes are very investor-friendly measures which would simplify the process of investing.
The Minister expressed the Government’s intention to provide necessary incentives for introduction of real estate investment trusts (REITs). He also said REITs would be given tax pass-through status to avoid double taxation.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.