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Dec 16, 2019

FM Sitharaman holds 2nd pre-budget consultations with stakeholders

Finance Minister Nirmala Sitharaman held her 2nd pre-budget consultations with stakeholders' groups from the Financial Sector and Capital Markets in New Delhi today. The meeting took place in connection with the forthcoming Union Budget 2020-21. The Finance Minister is likely to present her second budget in Parliament on the 1st of February next year.
The Finance Ministry said the main areas of discussion included increasing credit off-take from banks, governance changes in Public Sector Banks, creation of well-functioning bond markets, Alternative Investment Funds in Real Estate Sector and measures for alleviating stress among Non-Banking Financial Companies.

With a view to give a boost to the markets, the representatives of the Financial Sector and Capital Markets submitted several suggestions concerning enhancing credit off-take from banks, risk capital issues, mutual funds and promoting leasing by reducing GST. Suggestions were also received for enhancing support from private banks to stand up India Scheme.

Minister of State for Finance Anurag Thakur, Finance Secretary, Secretary Economic Affairs, Revenue Secretary, Chief Economic Advisor, Chairman Central Board of Direct Taxes and Chairman Central Board of Indirect Taxes attended the meeting.

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