Home >Markets >Stock Markets >What is in for Indian markets in Budget 2019?

New Delhi: Finance Minister Nirmala Sitharaman’s maiden Budget gave an indication of further development of the infrastructure sector in the country and further opening up the economy to FDI. The finance minister also proposed measures to further increase foreign investor participation in Indian capital markets.

Some key highlights here:

-A social stock exchange to be set up to list social enterprises and voluntary organizations working for social welfare

-Existing Know Your Customer (KYC) norms for foreign portfolio investors to be rationalized and simplified, to make it more investor-friendly

-A number of measures will be taken up to deepen the corporate bond market

-Trading in corporate bonds would be made user-friendly

-Government to allow AA-rated bonds to be used as collateral in tri-party repo market

-Have proposed to Sebi to increase public-holding in listed companies to 35% from 25%

-Local sourcing norms will be eased in case of single-brand retail

-To merge NRI portfolio route with FPI route to increase more NRI portfolio flows into India

-Foreign portfolio investors (FPI) will now be allowed to invest in REITs, InVits

-NRI portfolio route to be merged with FPI route

-Proposes 100% FDI for insurance intermediaries

-Inter-probability of RBI depositories, Sebi depositories necessary for seamless transfer of treasury bills. The government to take necessary measures

-Credit Guarantee Enhancement Corp will be set up in 2019-20, action plan to deepen markets for long-term bonds with specific focus on infra sector to be put in place

Catch the live updates of Union Budget here

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

My Reads Redeem a Gift Card Logout