Finance Minister, Nirmala Sitharaman has presented the Union budget 2021 – 2022 today. She is using a made in India tablet to deliver the paperless budget. The government has raised the limit for foreign direct investment (FDI) insurance sector to 74 percent from 49 percent – with safeguards and also propose to amend the Insurance Act, 1938 and will launch a new investor charter for investor protection. Will launch a securities market code which will include the SEBI Act, the government Securities Act and the Depositories Act
Asset reconstruction and management company to be set up for stressed assets.
In Financial year 2022, PSU bank recapitalisation plan is of Rs 20,000 crore. We will allow sale of distressed assets to Alternate Investment Funds (AIFs). The NCLT framework will also be strengthened to implement e-courts. All divestments announced so far, are to be completed in Financial year 2022.
