#HighlightBudget2015 #FinancialMarket

Financial Market

• India Financial Code to be introduced soon in Parliament for consideration.
• Vision of putting in place a direct tax regime, which is internationally competitive on rates, without exemptions.
• Government to bring enabling legislation to allow employee to opt for EPF or New Pension Scheme. For employee’s below a certain threshold of monthly income, contribution to EPF to be option, without affecting employees’ contribution.

#HighlightBudget2015 #FinancialMarket

Financial Market

• Public Debt Management Agency (PDMA) bringing both external and domestic borrowings under one roof to be set up this year.
• Enabling legislation, amending the Government Securities Act and the RBI Act included in the Finance Bill, 2015.
• Forward Markets commission to be merged with SEBI.
• Section-6 of FEMA to be amended through Finance Bill to provide control on capital flows as equity will be exercised by Government in consultation with RBI.
• Proposal to create a Task Force to establish sector-neutral financial redressal agency that will address grievance against all financial service providers.