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Share your ideas for Implementation of Budget Initiatives for the Financial Sector

Start Date :
Feb 25, 2021
Last Date :
Mar 31, 2021
23:45 PM IST (GMT +5.30 Hrs)
Submission Closed

The Hon’ble Prime Minister Shri Narendra Modi will address the webinar on effective implementation of the Union Budget provisions in the Financial sector on 26th February 2021. ...

The Hon’ble Prime Minister Shri Narendra Modi will address the webinar on effective implementation of the Union Budget provisions in the Financial sector on 26th February 2021.

The key announcements in the Union Budget related to Financial Sector are as follows and we seek ideas and suggestions from the public and other stakeholders on the same:

• Fiscal deficit stands at 9.5% of the GDP; estimated to be 6.8% in 2021-22
• Proposal to allow States to raise borrowings up to 4% of GSDP this year
• A Unified Securities Market Code to be created, consolidating provisions of the Sebi Act, Depositories Act, and two other laws
• Proposal to increase FDI limit from 49% to 74%
• An asset reconstruction company will be set up to take over stressed loans
• Deposit insurance increased from Rs 1 lakh to Rs 5 lakh for bank depositors
• Proposal to decriminalise Limited Liability Partnership Act of 2008
• Two PSU bank and one general insurance firm to be disinvested this year
• An IPO of LIC to debut this fiscal
• Strategic sale of BPCL, IDBI Bank, Air India to be completed

Last date of submission will be 31st March 2021

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Showing 914 Submission(s)
shakti singh
shakti singh 5 years 3 months ago
Senior citizens who are above the age of 75 years have been provided tax benefits. Senior citizens who receive income via in interest and pension do not have to file income tax returns. The time limit for reopening the assessment procedure has been reduced to 3 years. Earlier, the time limit was 6 years. Tax holiday Extended to one more year for Affordable housing projects Copper scrap Import duty reduced from 5% to 2.5% Government cuts import duty on gold and silver from 12.5% to 7.5%
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shakti singh
shakti singh 5 years 3 months ago
Senior citizens who are above the age of 75 years have been provided tax benefits. Senior citizens who receive income via in interest and pension do not have to file income tax returns. The time limit for reopening the assessment procedure has been reduced to 3 years. Earlier, the time limit was 6 years. Tax holiday Extended to one more year for Affordable housing projects Copper scrap Import duty reduced from 5% to 2.5% Government cuts import duty on gold and silver from 12.5% to 7.5%
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Dr Pranab Kumar Verma
Dr Pranab Kumar Verma 5 years 3 months ago
My suggestions: 1.The kaccha rasid (receipt)system used by many shops must be stopped by a strict law as they ask that do we want the receipt with GST or without GST? 2.All the immovable properties must be scrutinized to check corruption 3.The circle rate system for land registry must be abolished as there is game of black money rampent in land business 4.The registry fee must be minimal to reduce wrong practices. 5.The limit of ATM amount per day must be rs 10,000 only for digital India.
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mars caesar das
mars caesar das 5 years 3 months ago
Sir, The market is full of liquid cash. A check on cash transactions will generate more and more revenue. Better NOT to print and circulate high value notes I.e. 2000/-, 500/-, 200/- in the system. If it is implemented then it will push digital transaction automatically. And with that corruption and other unlawful work will be decreased significantly in our society. Please consider.
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sudish kumar Anadka
sudish kumar Anadka 5 years 3 months ago
We believe that as the bank interests on deposits are very low TDS on the interest income from deposits may be removed .We may add here it will reduce major work load on banks , income tax office and also to the deposit holders. Further, now with the use of technology at any point of time income tax department can find out the the total deposit held by an individual or firm.Definitely removal of TDS will be a game changer for financial institutions as well as depositors during this covid year
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Aravind Kumar D
Aravind Kumar D 5 years 3 months ago
since govt gave a go-ahead for fiscal expansion we should actively avoid west experience of stagflation and implement fiscal expansion with sureshot pinpoint accuracy. Crucial since tax rates are low, like poker chips once helicopter money is released in economy we cannot retrieve it and we get only few chances to expand and all inaccurately implemented fiscal expansion will slowly push consumers out of consumption groups due to inflation and thereby reducing growth enabling consumers numbers.
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VINAYAK SHANKARRAO KHARE
VINAYAK SHANKARRAO KHARE 5 years 3 months ago
R/sir, In recent investigation, it is in news media that NIA seized note counting machine from Mercedes used by API Vaze, and 1 more high end car. It clearly points to extortion racket, and thats the reason we must withdraw high denomination notes. Atleast, this may make it difficult for ransom collection, as every body may not be in a position to get note counting machine’s.
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Dattatraya Ekbote
Dattatraya Ekbote 5 years 3 months ago
Govt has taken right policies/steps during the recent budget which wants India to grow in a fast pace but this will only be achieved only by proper implementation and provide the required help/guide/respond/protect/look after the activities planned, Finance sector/services has to be developed/maintained such that it provides environment for the overall development of the nation and its citizens. Economy will grow when people areprovided with financial aid and govt should make it happen to all.
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