Page 43 - Banking Finance August 2019

BUDGET HIGHLIGHTS

cargo volume on Ganga, leading to cheaper freight and Y Model Tenancy Law to be finalized and circulated to the
passenger movement and reducing the import bill. states.
Y Rs. 50 lakh crore investment needed in Railway Y Joint development and concession mechanisms to be
Infrastructure during 2018-2030. used for public infrastructure and affordable housing on
Y Public-Private-Partnership proposed for development land parcels held by the Central Government and CPSEs.
and completion of tracks, rolling stock manufacturing Y Measures to enhance the sources of capital for
and delivery of passenger freight services. infrastructure financing:
Y 657 kilometers of Metro Rail network has become o Credit Guarantee Enhancement Corporation to be
operational across the country. set up in 2019-2020.
Y Policy interventions to be made for the development of o Action plan to be put in place to deepen the market
Maintenance, Repair and Overhaul (MRO), to achieve for long term bonds with focus on infrastructure.
self- reliance in aviation segment. o Proposed transfer/sale of investments by FIIs/FPIs
Y Regulatory roadmap for making India a hub for aircraft (in debt securities issued by IDFNBFCs) to any
financing and leasing activities from Indian shores, to domestic investor within the specified lock-in period.
be laid by the Government. Y Measures to deepen bond markets:
Y Outlay of Rs. 10,000 crore for 3 years approved for o Stock exchanges to be enabled to allow AA rated
Phase-II of FAME Scheme. bonds as collaterals.
Y Upfront incentive proposed on purchase and charging o User-friendliness of trading platforms for corporate
infrastructure, to encourage faster adoption of Electric bonds to be reviewed.
Vehicles. Y Social stock exchange:
Y Only advanced-battery-operated and registered e- o Electronic fund raising platform under the
vehicles to be incentivized under FAME Scheme. regulatory ambit of SEBI.
Y National Highway Programme to be restructured to o Listing social enterprises and voluntary
ensure a National Highway Grid, using a financeable organizations.
model. o To raise capital as equity, debt or as units like a
Y Power at affordable rates to states ensured under “One mutual fund.
Nation, One Grid”. Y SEBI to consider raising the threshold for minimum public
Y Blueprints to be made available for gas grids, water shareholding in the listed companies from 25% to 35%.
grids, i-ways, and regional airports. Y Know Your Customer (KYC) norms for Foreign Portfolio
Y High Level Empowered Committee (HLEC) Investors to be made more investor friendly.
recommendations to be implemented: Y Government to supplement efforts by RBI to get retail
o Retirement of old & inefficient plants. investors to invest in government treasury bills and
o Addressing low utilization of gas plant capacity due securities, with further institutional development using
to paucity of Natural Gas. stock exchanges.
Y Cross subsidy surcharges, undesirable duties on open Y Measures to make India a more attractive FDI
access sales or captive generation for industrial and destination:
other bulk power consumers to be removed under o FDI in sectors like aviation, media (animation,
Ujjwal DISCOM AVGC) and insurance sectors can be opened further
after multi-stakeholder examination.
Assurance Yojana (UDAY). o Insurance Intermediaries to get 100% FDI.
Y Package of power sector tariff and structural reforms o Local sourcing norms to be eased for FDI in Single
to be announced soon. Brand Retail sector.
Y Reform measures to be taken up to promote rental Y Government to organize an annual Global Investors
housing. Meet in India, using National Infrastructure Investment

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