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The Finance Minister has communicated his plans to bridge the gap between India and Bharat, by introducing reforms in urban and rural areas, and by stating that all policies need to benefit the poor.
The Union Budget has measures full of growth multipliers with a focus on public spending to create infrastructure, jobs and financial inclusion.
The International Finance Centre (IFC) in Gift city is a welcome move. Setting up of IFC in Gift city was a part of the vision of the Prime Minister that was supported by the BSE wholeheartedly. This would help establishing an IFC which can compete on rules, regulations and ease of business with other IFCs such as Hong Kong, Singapore, Dubai and London.
The postponement of implementation of GAAR by another two years with prospective effect is a welcome move.
Gold scheme will help channelise savings in the productive areas. Both the gold monetisation scheme and the sovereign gold fund will help turn gold into a productive asset.
We welcome the Government’s thrust on deepening the bond market, the BSE will work with the government to implement corporate debt market reforms for primary as well as secondary market.
Bankruptcy reforms have been an area India has been lagging, the introduction of bankruptcy code this year is one of the initiatives which will help bring India at par with the developed economies.
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