Market reforms:
- Asks SEBI to evaluate hiking minimum public shareholding to 25 percent from 35 percent
- Government will work with exchanges to allow AA bonds to be used as collateral
- Proposes rationalising and streamlining of KYC (know your customer) norms for Foreign Portfolio Investors (FPIs) to make it investor-friendly
- NRI portfolio route to be merged with FPI for seamless investment in stock markets
- Credit Guarantee Enhancement Corporation will be set up in 2019-20, action plan to deepen markets for long-term bonds with specific focus on infra sector to be put in place
- Will take up measures to make RBI and SEBI depositories inter-operable
- To allow FPIs/NRIs to subscribe to listed debt papers of REITs and InvITs
- To bring ETFs in line with equity-linked savings schemes of mutual funds to encourage retail investors
- Propose to give relief to Securities Transaction Tax (STT) on exercise of options will be cut to only profit
Banks
- State-run banks to get Rs 70,000 crore capital to boost credit
- To bring out a remedy against cash being deposited without knowledge of bank account holders
NBFCs
- Fundamentally sound NBFCs to keep getting funding from banks and mutual funds
- To allow FIIs and FPIs investment in debt securities issued by NBFCs
- Requirement of Debenture Reservation Reserve to be done away with for NBFCs
- One-time six-month partial credit guarantee to be given to PSU banks for purchase of high-rated pooled assets of financially sound NBFCs amounting to Rs 1 lakh crore in FY20
Agriculture/fisheries
- Govt to invest widely in agriculture infrastructure
- Support private entrepreneurship in value addition in agriculture
- Proposes Pradhan Mantri Matsya Sampada Yojana to address critical infrastructure gap in fisheries sector
Transportation
- To carry out comprehensive restructuring of National Highway programme
- Cargo volume on Ganges to increase four times over the next four years
- In second phase of Bharat Mala project, states will be helped to develop roadways
- 1,25,000 km of roads will be upgraded under Pradhan Gram
Sadak Yojana under Phase III at estimated cost of Rs 80,250
crore
Aviation
- Time right for India to enter into aircraft financing and leasing
- Will create congenial atmosphere for development of MRO services
- To harness India's space ability commercially, New Space India (NSIL) has been incorporated to tap the benefits of ISRO
- Will re-initiate privatisation of Air India
Power
- Package for power sector tariff and structural reforms to
be unveiled soon
Retail
- Local sourcing norms to be eased for single-brand retail FDI
- No merchant discount rate (MDR) charges on digital transaction made at big establishments having annual turnover of more than Rs 50 crore
Insurance
Proposes to reduce net owned fund requirements to Rs 1,000 crore for onshoring of international insurance companies
Real estate
- RBI to get regulation authority of housing finance sector
- Will finalise a model tenancy law and circulate to states; and propose steps for rental housing
- Proposes setting up 1.95 crore houses under Pradhan Mantari Awas Yojna (Rural)
- Offers additional tax deduction of Rs 1.50 lakh on interest paid on home loans taken up to March 2020
Small businesses/MSMEs
- To extend pension benefit to three crore retail traders with an annual turnover less than Rs 1.5 crore under Pradhan Mantri Karam Yogi Man Dan Scheme
- Centre will create a payment platform for MSMEs for payment of bills
- 100 new clusters will be set up in 2019-20 to enable 50,000 artisans to come into the economic value chain
- To launch mission to integrate traditional artisans and creative persons with global market; to obtain GI/patents for them
- Will set up 10,000 new farmer producer organisations
- To start television programme exclusively for startups
- Proposes to expand self-help groups to all districts; one woman in every SHG to get a loan up to Rs 1 lakh under Mudra Yojana
- Startups who provide details in returns will have no scrutiny in respect of valuation of share premium
- Period of exemption from capital gains from sale of startups extended
- Startups will not be required to justify fair market value of shares issued to investors in Category II Alternative Investment Funds
Railways
- Railways to be encouraged to invest more in suburban rail network via special purpose vehicles (SPVs) and enhance metro rail network through public-private partnerships
- Railway station modernisation programme will be launched this year