Update on the Financial Sector
UPDATE ON FINANCIAL SECTOR
New Derivative products to be developed.
Revamping Banking Sector bank, Proposes 25000 Cr towards recapitalisation of PSB. Expected was more than 40000 Cr, negative for PSB.
100 percent FDI for food processing industry will be allowed.The government will tweak FDI norms for stock exchanges, pension, insurance, asset reconstruction. "Details are in the Budget document," the FM says.
The Bankruptcy Code Bill will be introduced in Parliament in FY17. But will it be passed?
To allow 100% FDI in Asset recast companies.
The FM proposes to tweak the SARFAESI Act, which deals with liquidation and recovery processes. A proposal for the SEBI Act is also made.
Banking Board Bureaure Be operational by 2017.
To cut stake in IDBi Below 50 %.
To stick to the fiscal deficit of 3.9 % in FY16 GDP. To stick to the fiscal deficit of 3.5 % in FY17.
Total expenditure at 19.7 Lakh Crores in FY17.
Revenue Deficit Target of FY 16 at 2.5 %.
Overall, the government has increased its plan expenditure by 15.3 percent to Rs 5.5 lakh crore. Non plan expenditure at Rs 14.28 lakh crore
The Modi government's war on Soviet-era central planning methods. Following the abolition of the Planning Commission, the government will now do away with the distinction between plan and non-plan expenditure from FY18.
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New Derivative products to be developed.
Revamping Banking Sector bank, Proposes 25000 Cr towards recapitalisation of PSB. Expected was more than 40000 Cr, negative for PSB.
100 percent FDI for food processing industry will be allowed.The government will tweak FDI norms for stock exchanges, pension, insurance, asset reconstruction. "Details are in the Budget document," the FM says.
The Bankruptcy Code Bill will be introduced in Parliament in FY17. But will it be passed?
To allow 100% FDI in Asset recast companies.
The FM proposes to tweak the SARFAESI Act, which deals with liquidation and recovery processes. A proposal for the SEBI Act is also made.
Banking Board Bureaure Be operational by 2017.
To cut stake in IDBi Below 50 %.
To stick to the fiscal deficit of 3.9 % in FY16 GDP. To stick to the fiscal deficit of 3.5 % in FY17.
Total expenditure at 19.7 Lakh Crores in FY17.
Revenue Deficit Target of FY 16 at 2.5 %.
Overall, the government has increased its plan expenditure by 15.3 percent to Rs 5.5 lakh crore. Non plan expenditure at Rs 14.28 lakh crore
The Modi government's war on Soviet-era central planning methods. Following the abolition of the Planning Commission, the government will now do away with the distinction between plan and non-plan expenditure from FY18.
www.indianmarketview.com
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