{"id":313289,"date":"2019-06-13T11:54:49","date_gmt":"2019-06-13T11:54:49","guid":{"rendered":"http:\/\/tehelka.com\/?p=313289"},"modified":"2019-06-13T11:54:49","modified_gmt":"2019-06-13T11:54:49","slug":"fm-nirmala-sitharaman-holds-pre-budget-consultation-with-representatives-of-financial-sector-capital-markets","status":"publish","type":"post","link":"https:\/\/tehelka.com\/fm-nirmala-sitharaman-holds-pre-budget-consultation-with-representatives-of-financial-sector-capital-markets\/","title":{"rendered":"FM Nirmala Sitharaman holds Pre-Budget Consultation with representatives of Financial Sector, Capital Markets"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\"><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-313290 aligncenter\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2019\/06\/sitharaman-300x124.jpg\" alt=\"\" width=\"544\" height=\"225\" srcset=\"https:\/\/tehelka.com\/media\/2019\/06\/sitharaman-300x124.jpg 300w, https:\/\/tehelka.com\/media\/2019\/06\/sitharaman-768x318.jpg 768w, https:\/\/tehelka.com\/media\/2019\/06\/sitharaman-1024x424.jpg 1024w, https:\/\/tehelka.com\/media\/2019\/06\/sitharaman-696x288.jpg 696w, https:\/\/tehelka.com\/media\/2019\/06\/sitharaman-1068x443.jpg 1068w, https:\/\/tehelka.com\/media\/2019\/06\/sitharaman-1014x420.jpg 1014w, https:\/\/tehelka.com\/media\/2019\/06\/sitharaman.jpg 1214w\" sizes=\"(max-width: 544px) 100vw, 544px\" \/><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The Union Minister of Finance and Corporate Affairs Nirmala Sitharaman held her third Pre- Budget Consultation Meeting with the stakeholders from Financial Sector and Capital Markets on Thursday.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The main areas of discussion during the Meeting included issues relating to the Capital Markets, Financial Sector, Non-Banking Financial Companies (NBFCs) and Alternative Investment Funds (AIFs) among others.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">With a view to give boost to Indian markets, the representatives of Financial Sector and Capital Markets submitted several suggestions concerning infusion of capital in niche\/regional banks, enhanced role of Financial Sector Development Council, on the NBFC Sector, need to distinguish between solvency, governance &amp; liquidity issues was mentioned along with creation of dedicated liquidity window for NBFC sector , review of interest rates on Govt.\u2019s Small Savings Schemes, review of banking NPAs provisions through setting-up a Committee.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Other suggestions submitted including, enhancing financial literacy programmes and funding,\u00a0 incentivising agricultural marketing, setting-up of Debt Exchange Traded Fund, domestic capability building in Audit &amp; Credit Rating, making available trade licence online for MSME sector, provision to ease liquidity pressures created due to insolvency, rationalisation of various taxes like Security Transaction Tax (STT) in capital market, setting-up of a separate bond exchange, allowing banks to invest in InvITs to access broader market and make Corporate Tax progressive to incentivise MSME Sector among others.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Along with Nirmala Sitharaman, the meeting was attended by Anurag Thakur, Minister of State for Finance and Corporate Affairs, Subhash C. Garg, Finance Secretary, Girish Chandra Murmu, Expenditure Secretary, Ajay Narayan Pandey, Revenue Secretary, Rajeev Kumar, Secretary, DFS, Atanu Chakraborty, Secretary, DIPAM, Pramod Chandra Mody, Chairman, CBDT, P.K Das, Chairman, CBIC, Dr K.V. Subramanian, CEA and other senior officials of Ministry of Finance.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Major Stakeholders of Financial Sector and Capital Markets participated in the Meeting.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Minister of Finance and Corporate Affairs Nirmala Sitharaman held her third Pre- Budget Consultation Meeting with the stakeholders from Financial Sector and Capital Markets on Thursday. The main areas of discussion during the Meeting included issues relating to the Capital Markets, Financial Sector, Non-Banking Financial Companies (NBFCs) and Alternative Investment Funds (AIFs) among [&hellip;]<\/p>\n","protected":false},"author":59,"featured_media":313290,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[4753,11493],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/313289"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=313289"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/313289\/revisions"}],"predecessor-version":[{"id":313291,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/313289\/revisions\/313291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/313290"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=313289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=313289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=313289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}