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?
Growth-oriented Budget with a balanced approach
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Being a technology company that promotes digitisation, we are excited to see the first-ever Digital Budget in the history of India. The government is leading by example the way it is adopting digital transformation, be it faceless tax assessments or going all the way to make the Budget process entirely digital.
Keeping in view the fact that the world is fighting the battle with first-ever pandemic in the past 50 years, this Budget is a very balanced and a growth-oriented one. This should help bring the economy back on the right track with maintaining its continuous focus on ‘Aatmanirbhar Bharat’.
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‘Investor Charter’ likely to find place in SEBI, IRDAI regulatory framework
February 02, 2021
High-level group to work on single securities market code: Tarun Bajaj
The Finance Ministry has indicated that the Securities and Exchange Board of India (SEBI) and the Insurance Regulatory and Development Authority of India (IRDAI) could consider introducing the ‘investor charter’ as part of the regulatory framework.
“It is up to SEBI and IRDAI to consider ‘investor charter’ as part of regulatory compliance,” Economic Affairs Secretary Tarun Bajaj told
BusinessLine. It has been proposed, but the final shape will take place with due consultations with the regulators.
Finance Minister Nirmala Sitharaman, in her Budget speech, said, “I propose to introduce an investor charter as a right of all financial investors across all financial products.”