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