Live Updates and discussion on Union Budget 2020

Page no : 5

Mita Basak (Professional) (1878 Points)
Replied 01 February 2020

FM says stable and predictable business environment is key for government. Contracts Act will be strengthened to ensure that all contracts are honoured, says Nirmala Sitharaman

(Guest)

Tax payers charter to curb tax harassment is a step to adopt global best practices @ FM

Jyoti • Now

(Guest)

Tax harrassment cannot be tolerated:FM

1 Like

(Guest)

FM says businesses will need to be confident. She added that a tax-payer charter will be insttutionalised in the budget. This will help in building trust, says FM. Government will ensure that citizens need not worry about tax harassment, says FM. There is a debate on building criminal liabilites for civil acts. Companies Act will be amended to correct this, says Sitharaman.

(Guest)

Insurance cover for bank depositors to be hiked to ₹5 lakh: FM

Niyati (Student) (6202 Points)
Replied 01 February 2020

Operation has been permitted to increase deposit insurance coverage for deposit which is now standing at 100000 rupees.

Government will take appropriate measures to bring transparency in Public Sector Banks- FM

Mita Basak (Professional) (1878 Points)
Replied 01 February 2020

I propose to make necessary amendments to the factor regulation act 2011 this will enable NBFC to extend invoice financing to the MSMEs- FM

(Guest)

Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to ₹5 lakh per depositor from ₹1 lakh

Niyati (Student) (6202 Points)
Replied 01 February 2020

Best invoice financing loans product will be launched this which will do away problem of delayed payments to MSMEs- FM

Mita Basak (Professional) (1878 Points)
Replied 01 February 2020

To reduce the liquidity constraints of NBFCs, the government formulated partial credit guarantee scheme for NBFCs- FM

(Guest)

FY21 fiscal deficit target pegged at 3.5% of GDP#FM

(Guest)

Need for greater private capital in banks:
-Government pension trust will be separated from PFRDA: FM
-Balance govt holding in IDBI banks to be sold to pvt retail investors: FM