Integrated IT portal to be set up for unclaimed shares, dividend: FM
1 min read . Updated: 01 Feb 2023, 12:40 PM IST
PremiumThis move will boost investors protection said FM Nirmala Sitharaman
The Finance Minister Nirmala Sitharaman has proposed to set up an integrated IT portal that will help investors for reclaiming unclaimed shares and dividends.
This move will boost investors protection said, Finance Minister Nirmala Sitharaman in her Budget speech.
Integrated IT portal will be set up for reclaiming unclaimed shares and dividends: FM.
The Union Budget has fixed the fiscal deficit target for 2023-24 at 5.9 percent of GDP. This would represent a reduction of 50 basis points from this year’s fiscal deficit target of 6.4 percent.
"To finance fiscal deficit in 2023-24, net market borrowing from dated securities estimated at ₹11.8 lakh crore," saidFM Sitharaman.
"Fiscal deficit to be brought down to below 4.5% by 2025-26," added FM Sitharaman.
Finance Minister Nirmala Sitharaman on Wednesday announced hiking the capital expenditure by 33 per cent to ₹10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP.
Indian economy has increased in size from being tenth position to fifth largest in last nine years, said Finance Minister Nirmala Sitharaman in her Budget speech.
“The world has recognized India as a bright star, our growth for the current year is estimated at 7.0 per cent, this is the highest among all major economies," said Finance Minister Sitharaman.
She said that the per capita income has increased to ₹1.97 lakh.
The Centre will spend ₹2lakh crore on free food grains for all priority households under PM Garib Kalyan Yojana, FM announced in the Budget speech.
