Government working out modalities of replacement to SEZ Act, Finance Minister told BloombergQuint.
One broad objective of replacing SEZ Act is for states to be able to participate in SEZs in better manner, she said.
Sovereign green bonds announced in the budget are part of government's overall borrowing programme, not additional, the Economic Affairs Secretary said.
Proceeds from green bonds will be used on specific sectors and projects
Green bonds for domestic market at this point of time
In conversation with RBI, market participants, will determine size in due course
Finance minister said that the Union Budget 2022 is continuing the agenda laid out in the previous budget.
Finance minister said that the budget has not made any attempt to get more revenue through tax hikes.
PM repeated the instruction he gave last year to not increase tax burden on people during the pandemic, she said.
A currency is a currency only when it is issued by the central bank, even if it is crypto.Finance Minister Nirmala Sitharaman
The BEPS discussion on the capital gains tax rights on bond inclusion on global indices, said Revenue Secretary Tarun Bajaj.
Not the right time to take a decision to give up domestic rights while fighting in the BEPS discussion.
The much awaited initial public offering of LIC of India will in all probability go through this year, the minister said.
Have shown intent of government on privatisation – Air India got cleared, NINL has found its buyer.
Have been very realistic on communicating disinvestment plan and achieving it.
India's divestment secretary Tuhin Kanta Pandey said that one cannot make a conjecture on size of LIC IPO based on FY22 revised estimate for disinvestment as a valuation has not been reached yet.
Finance minister said that the government has been proved right on its fiscal assessments that were made for FY22.
Conservative may mean not being overtly and excessively optimistic.
Sure to achieve the FY23 fiscal numbers, if anything will probably better them.
The finance minister said that it was a tested and proven formula to aid the hospitality and linked sectors with the Emergency Credit Guarantee Line Scheme as it had worked well for MSMEs.
Many hospitality businesses are still approaching banks for normal course of credit, if ECGLS has to be extended that provision is now in place.
The finance minister will not have any opening statement for the press conference. She is addressing media questions directly.
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