pointoutnews.com march 2015 A bridge between India and Bharat

Point
Out
Budget Analysis
Bankruptcy reforms have been an area India has been
lagging, the introduction of Bankruptcy code this year
is one of the initiatives which will helpbring India at
par with the developed economies and add to the
Government’s plan on improving ease of doing business.
onshore. Doing away with FPI and FDI
distinction and making a composite
limit for foreign investments would
help channel more foreign investments.
The government will a create a micro
units development refinance agency,
Mudra Bank with an initial corpus of
Rs 20,000 crore and credit guarantee
corpus of Rs 3,000 crore to provide
credit facilities primarily for businesses
established by SC/STs, which would
facilitate financial inclusion, while
helping create more jobs.
Bankruptcy reforms have been an area
India has been lagging, the introduction
of Bankruptcy code this year is one of
the initiatives which will helpbring India
at par with the developed economies
and add to the Government’s plan on
improving ease of doing business.
The Government has recently launched
an E-biz portal which integrates 14
regulatory permissions at one source.
The Hon’ble FM in his budget speech
mentioned the appointment of an
expert committee for the purpose
of examining the possibility and
preparing a draft legislation where the
need for multiple prior permissions
can be replaced with a pre-existing
regulatory mechanism. These moves
would help cut the lead time to set up
new businesses, simplify the regulatory
compliance and add to ease of doing
business.
Leveraging the extensive Post office
network in India as part of Jan
DhanYojana, creation of a Universal
Social Security System with affordable
Insurance cover for all are laudable
initiatives for financial inclusion.
The author is the MD & CEO of the BSE
Ltd. He has over 22 years of experience in
Financial Markets and technology. Ashish
holds a B.Tech in Mechanical Engineering
from IIT Bombay and PGDM from IIM
Calcutta.
30
march 2015