Highlights
Budget went paperless this time.
Budget session will be held in two phases Jan 29 to Feb 15 and March 8 to April 8.
New Delhi: Finance Minister Nirmala Sitharaman while presenting the Union Budget 2021-22 in Parliament on Monday announced that the government will consolidate the provisions of SEBI Act, 1992, Depositories Act, 1996, Securities Contracts (Regulation) Act, 1956 and Government Securities Act, 2007 into a rationalissed single Securities Markets Code.
The Government will support the development of a world class Fin-Tech hub at the GIFT-IFSC.
In order to instil confidence amongst the participants in the Corporate Bond Market during times of stress and to generally enhance secondary market liquidity, Union Budget 2021-22 proposes to create a permanent institutional framework. The proposed body would purchase investment grade debt securities both in stressed and normal times and help in the development of the Bond Market.
Budget 2021 | Government takes the Budget route to give SEBI more teeth
On Monday, Finance Minister Nirmala Sitharaman unveiled her policies for ‘Financial Capital’ with a big-bang announcement related to SEBI.
SEBI headquarters (Representative image)
For the top honchos of the Securities and Exchange Board of India (SEBI), listening to the Union Budget is not only about knowing the government’s thinking on important policies related to the various aspects of the economy like finance, health, infrastructure, and agriculture among other things but also about the capital market regulator’s own jurisdiction, powers, and new initiatives.
The government seems to have taken a special liking for the Mumbai-based watchdog to ensure that there is at least one major announcement in the Budget related to the regulator that monitors key sections of the capital market like equities, commodities, and currencies, along with a vast number of mutual funds and foreign investors.
1:00 PM, February 1: Finance Minister Nirmala Sitharaman has concluded her Union Budget speech. We will be posting in depth stories on all things technology, startups and digital from the Budget over the course of the day. Stay tuned! 12:54 PM, February 1: Withdrawing exemptions in mobile manufacturing: Domestic electronic manufacture has grown rapidly, we […]
Govt to introduce single securities market code
PTI
New Delhi |
Updated on
February 01, 2021
Risk free Government securities are among the safest instruments since they come with sovereign guarantee - designer491
Risk free Government securities are among the safest instruments since they come with sovereign guarantee - designer491× The government on Monday proposed to introduce a unified securities markets code, a move that will help in boosting the ease of doing business in the country s financial markets.
The proposed move would help in cutting down compliance costs and reducing the friction between rules enacted by capital markets watchdog Sebi, depositories and government, experts said.
Budget 2021: Govt to notify Sebi as gold exchanges regulator
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The Finance Minister Nirmala Sitharaman in her budget speech on Monday said finance ministry will notify Securities and Exchange Board of India (Sebi), the capital markets watchdog as regulator for gold exchanges. This was earlier recommended by a committee appointed by the finance ministry under NITI Aayog member Ramesh Chand.
The FM proposed to launch a unified securities market code.
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