BUDGET 2017: Unveiling Of More Reforms

The following are the major market reforms announced by Union Finance Minister Arun Jaitley, who presented the annual budget in Parliament on Wednesday:

• Market reforms will be undertaken, states will be asked to denotify perishables from Essential Commodities Act
• Trade Infrastructure Export Scheme to be launched in 2017-18; total allocation for infra at record Rs 3.96 lakh crore
• The shares of railway CPSCs like IRCTC and IRFC to be listed on various stock exchanges
• More funds beyond Rs 10,000 cr for recapitalisation of banks will be provided if needed
• The Foreign Investment Promotion Board has been abolished
• Dispute resolution in infrastructure projects in PPP mode will be institutionalised
• Govt to further liberalise FDI policy
• Govt will amend the Multi-state Cooperative Act to protect the poor and gullible investors
• Urgent need to protect poor from chit fund schemes, draft bill placed in public domain
• Computer emergency response team to be set for cyber security of financial sector
• Integrated public sector oil major to be created to match global giants
• New ETF with diverse stocks will be launched in 2017-18