Hey guys, we’re starting this thread to summarize all the important budget announcements with @TataMutualFund.
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Budget aims to build on Aatmanirbhar Bharat mission amidst changing global dynamics, Six pillars include Health Infra, Physical Infra, Human Capital, Inclusive growth, innovation and Minimum Government - Maximum Governance.
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Big boost on capital expenditure for FY22. For funding, significant institutional setup planned to execute and monitor monetization of assets owned by PSUs or government undertaking.
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Three key reforms for Financial Markets: Single securities market code, improve liquidity in Bond markets and increase in FDI limit in the insurance sector to 74%.
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Big push on privatisation - 2 PSU banks and 1 general insurance company also likely to be privatised. More PSUs to be added to the list of privatisation and land monetisation also on the cards.
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Budget thrust so far indicates a follow through from the Economic Survey suggestions of having a counter-cyclical fiscal policy for the next 1 year till growth regains the 7% trajectory after FY22.