ISO 9001:2015 Certified
closex Call Us 11-23320714, 23721504, ficci@ficci.com

 Upcoming Event
to forge a partnership on Technology Commercialization Initiative, FICCI-AMITY and IC2 Institute University

No direct monetisation plan yet: DEA Secy 

The Indian Express , Jul 24, 2020

The government does not have any plan to pursue direct monetisation of its debt with the central bank at the moment, but plans to extend production linked incentives to more sectors to boost local manufacturing, Department of Economic Affairs Secretary Tarun Bajaj said Thursday. He said government revenues have started picking up with additional levies on petrol and diesel helping to raise tax mop-up.

While data from various agencies, including World Bank and IMF suggest GDP contraction this year, the economy is expected to recover sharply next year, indicating a V-shaped recovery, he said.

“At this point of time, I have some calculations. I have some plans in mind … RBI has assisted us in a great deal this time. At this point of time monetisation is not on the table at all. It has not been discussed with the central bank also,” he said at a FICCI conference on capital markets organised through a video link.

Still, he said he’d better able to answer this question in 3-4 months when more data on revenue position become available.

Monetisation simply means that the RBI directly funds the central government’s deficit. Until 1997, the government used to sell securities — ad hoc Treasury-Bills — directly to the RBI, and not to financial market participants. This allowed the government to technically print equivalent amount of currency to meet its Budget deficit.ation plan yet: DEA Secy

Amid falling revenues and a likely contraction in growth, the government has already increased its borrowing target by over 50 per cent from Rs 7.8 lakh crore to Rs 12 lakh crore in May. Even as government may miss its Budget targets, the contraction in the economy may not be as bad as some people have projected, he indicated.

To boost domestic manufacturing, production-linked incentives announced for mobile and medical gear and pharma, will be extended to 4-6 more sunrise sectors with a lot of export potential.

The Centre expects growth to come back from next year, while agriculture sector has been doing well even this year with good rabi crop production and expectations of a good kharif crop as well. The government will soon decide on privatisation of two sets of six Indian airports, including those in Amritsar, Indore, Ranchi, Trichy, Bhubaneswar and Raipur, he said.

 

 

Also Read

To achieve global scale, Indian banking sector needs to implement Fintech: Chief Economic Adviser

Privatization will bring actual value to Indian Economy: Secretary, DIPAM

G-Secs should be issued in demat form for new retail investors: SEBI Chairman

Govt ready with incentives and development schemes to boost manufacturing in India: Secretary, DEA

GST rates can be reduced further as tax base increases: Finance Secretary

Spike in equity market retail participation seen since lockdown: Sebi chief     

Tyagi's bold idea to bridge govt fund gap: Offer G-sec in demat, tap new investors     

Banks playing dampener in India's growth story, says CEA Subramanian     

Keeping the stock market open amid lockdown was the best decision: BSE chief     

Right time for additional fiscal stimulus would be after vaccine's availability: CEA     

Make gradual entry in mkts, understand risks: Sebi chief to small investors     

SEBI Chairman Ajay Tyagi highlights need to develop corporate bond market across the rating curve     

Next fiscal step likely after vaccine to cure Covid-19 comes: CEA     

Privatisation remains a priority despite Covid slowdown: DIPAM Secy     

SEBI chief says retail investor participation up since lockdown, praises colleagues for moves made     

Strong pipeline of assets to be monetised via InvITs and REITs visible: Sebi     

SEBI chief moots real-time settlement of trades in stock market     

Right time for fiscal push will be when Covid-19 vaccine is available: CEA Subramanian     

Corporate bond market restricted to top rated bonds; need more players : Sebi chief     

Stock brokers working permanently from home is worth considering: Ajay Tyagi     

Fiscal measures likely once uncertainty around COVID wanes: CEA KV Subramanian     

Covid-19 has put hurdles in government’s strategic disinvestment plan: DIPAM secretary     

Spike in equity market retail participation seen since lockdown, Sebi chief says     

Right time for next fiscal push may be when COVID-19 vaccine comes through: CEA     

Spike in equity market retail participation seen since lockdown: Sebi chief Tyagi     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Equity market geared up to aid India achieve $5 trillion economy mark, says Sebi chief     

Coronavirus lockdown led to increased equity market retail participation: Sebi chief     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Banking sector woes impacting growth: Chief Economic Adviser     

Market geared up to aid India achieve USD 5 trn economy mark: SEBI Chairman     

Right time for fiscal push when COVID-19 vaccine is available: Chief Economic Advisor     

Banking sector woes have impacted investments and growth, says CEA KV Subramanian     

Corporate bond market restricted to top-rated bonds; need more players: Sebi chief     

Spike in equity market retail participation seen since lockdown: Sebi chief     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Right time for fiscal push when COVID-19 vaccine is available: Chief Economic Advisor     

Spike in equity market retail participation seen since lockdown: Sebi chief     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Right time for fiscal push will be when COVID-19 vaccine is available: CEA Subramanian     

COVID-19 has put a brake on strategic disinvestments: DIPAM Secretary     

Unify G-sec and corporate bond markets, says Sebi Chief Ajay Tyagi     

Spike in equity market retail participation seen since lockdown: SEBI chief     

SEBI Chairman Ajay Tyagi: Over Rs 2 lakh crore capital raised in Q1 despite COVID-19 crisis     

Right time for fiscal push will be when COVID-19 vaccine is available: CEA Subramanian     

Indian economy could revive sooner than we expect, says Finance Secretary     

Govt rules out FAQ on Equalisation Levy on e-commerce companies, says law very clear     

Need to focus on corporate bond market: Sebi Chief     

Google tax 'very clear', no need for FAQs: Finance secretary A B Pandey     

Make in India: Govt to offer production linked incentives in more sectors     

Govt requests NITI Aayog to work out five-year asset monetisation plan     

Revenue improving; no FAQ on Google Tax, says Finance Secretary     

Corporate bond market needs participation from other market players: Sebi's Ananta Barua     

Tax trends spur hopes of recovery: Ajay Bhushan Pandey     

DEA suggests 25% threshold for China FDI     

Ajay Tyagi: 'First-time investors should invest in G-Secs, then move to other securities'     

India to offer production linked incentives to boost manufacturing     

India to offer production linked incentives to boost manufacturing     

India plans to offer production linked incentives for five sectors     

Govt plans production-linked incentives for 4-5 sectors to boost manufacturing     

India expects V-shaped recovery next fiscal: DEA Secretary Tarun Bajaj     

June records 78% jump in UPI transactions     

To achieve global scale, Indian banking sector needs to implement fintech: Chief Economic Adviser     

India to offer production linked incentives to boost manufacturing     

Government plans to add 4-5 more sectors in production-linked incentive scheme: Tarun Bajaj     

No plan to monetise debt, says Tarun Bajaj     

Lockdown: Delays likely in PSU selloff     

India plans to offer production linked incentives for five sectors     

Centre working on offering production-linked incentives     

Banking sector woes impacting growth: CEA     

Equity market geared up to aid India achieve $5tr economy mark     

India expects V-shaped recovery, growth likely next year, Economic Affairs Secretary says     

India working on production linked incentives for 4-5 sectors     

Government plans to add 4-5 more sectors in production-linked incentive scheme: Tarun Bajaj     

Finance Ministry requests Niti Aayog to work out 5-year asset monetisation plan     

Coronavirus impact: India to offer production-linked incentives to boost manufacturing     

'Govt ready with incentives, development schemes to boost manufacturing in India'     

Government rules out FAQ on Equalisation levy     

NPAs and risk aversion in the banking sector impacting growth, says CEA Subramanian     

Retail investors' participation in equity market surges     

Banking sector woes impacting growth: CEA Krishnamurthy V Subramanian     

Govt ready with incentives and development schemes to boost manufacturing in India: Secretary, DEA     

To achieve global scale, Indian banking sector needs to implement Fintech: Chief Economic Adviser Dr Krishnamurthy Subramanian     

'Govt ready with incentives, development schemes to boost manufacturing in India'     

Govt ready with incentives, development schemes to boost manufacturing in India     

'Govt ready with incentives,development schemes to boost manufacturing in India'     

'Govt ready with incentives,development schemes to boost manufacturing in India'     

Covid slowed disinvestment, EoIs may be extended: DIPAM Secy     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Government plans to add 4-5 more sectors in production-linked incentive scheme: Tarun Bajaj     

Debt monetisation not on govt's agenda at present: DEA Secretary     

Growth, investment hit by banking sector woes     

Banking sector woes impacting growth: CEA Subramanian     

Government plans to add 4-5 more sectors in production-linked incentive scheme: Tarun Bajaj     

Banking sector woes impacting growth: CEA     

Fintech can help Public Sector Banks to improve lending: Chief Economic Advisor     

SEBI: Illiquidity in bond market hits MFs, time to unify corporate bond and g-sec market     

Government plans to add 4-5 more sectors in production-linked incentive scheme: Tarun Bajaj     

CEA Krishnamurthy hinted at fresh economic stimulus once covid eases     

Focusing on privatisation will bring real benefits to economy: DIPAM Secretary     

'Govt ready with incentives,development schemes to boost manufacturing in India'     

India to offer production linked incentives to boost manufacturing     

India gears up to become $5tn economy     

Need to focus on corporate bond market: Sebi Chief     

Limit China FDI to 25%, says DEA     

India to offer production linked incentives to boost manufacturing     

Govt ready with incentives and development schemes to boost manufacturing in India: Secretary, DEA     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Right time for fiscal push will be when COVID-19 vaccine is available: CEA Subramanian     

Retail investors flocking to stock markets amid COVID-19 crises: SEBI Chief     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Spike in equity market retail participation seen since lockdown: Sebi chief     

Retail investors buying stocks amid Covid crisis     

Banking sector woes impacting growth: CEA     

India gears up to become $5 trillion economy     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Banking sector woes impacting growth: CEA     

Banking sector woes impacting growth: CEA     

Banking sector woes impacting growth: CEA     

Retail investors' participation in equity market surges: SEBI chief     

Market geared up to aid India achieve $5th economy mark - SEBI Chairman     

Make gradual entry in mkts, understand risks: Sebi chief to small investors     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Retail investors are increasing in stock markets amid COVID-19 crisis: SEBI Chief     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Spike in equity market retail participation seen since lockdown: Sebi chief     

Right time for fiscal push will be when COVID-19 vaccine is available: CEA Subramanian     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Banking sector woes impacting growth: CEA     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Banking sector woes impacting growth: CEA     

COVID-19 has put a brake on strategic disinvestments: DIPAM Secretary     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

COVID-19 has put a brake on strategic disinvestments: DIPAM Secretary     

Retail investors' participation in equity market surges: SEBI chief     

Retail participation increase in equity market since lockdown: SEBI chief     

Right time for fiscal push when COVID-19 vaccine is available: Chief Economic Advisor     

Right time for fiscal push when COVID-19 vaccine is available, says Chief Economic Advisor     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Retail investors' participation in equity market surges: SEBI chief     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Banking sector woes impacting growth: CEA     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Banking sector woes impacting growth: CEA     

Spike in equity market retail participation seen since lockdown: Sebi chief says     

Retail investors flocking to stock markets amid COVID-19 crisis: SEBI Chief     

Retail investors' participation in equity market surges: SEBI chief     

Retail investors' participation in equity market surges: SEBI chief     

Banking sector woes impacting growth: CEA     

Market geared up to aid India achieve $5tn economy mark: SEBI Chairman     

Right time for fiscal push when COVID-19 vaccine is available, says Chief Economic Advisor     

Right time for fiscal push when COVID-19 vaccine is available, says Chief Economic Advisor     

Right time for fiscal push when COVID-19 vaccine is available: Chief Economic Advisor     

Event:

 CAPAM 2020