We are open to feedback from experts on Budget, says Nirmala Sitharaman

Sitharaman said the immediate feedback on the Budget has been motivating with a positive impact on currency, bond and equity markets

We are open to feedback from experts on Budget, says Nirmala Sitharaman

Finance Minister Nirmala Sitharaman. Picture/Twitter Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said on Friday that she is willing to accommodate feedback given by economists and industry experts while making changes in the Union Budget proposals for 2020-21.

Finance Minister Nirmala Sitharaman on agriculture credit target: Credit limit has been expanded. We expect the demand to grow & the credit requirements to meet up with it. I am closely monitoring banks & their extension of credit facility, particularly to the rural areas. pic.twitter.com/WY9pVDIfhS
— ANI (@ANI) February 15, 2020

"As and when any tweaks have to be made after the Budget, or as and when more has to happen, we are willing and open to hearing more from all of you," she said at an interactive session titled 'Budget & Beyond' organised by NITI Aayog.

Sitharaman said the immediate feedback on the Budget has been motivating with a positive impact on currency, bond and equity markets.

"It is one Budget where the impact on equity, currency and bond market has been positive. Currency market remains stable, the bond market has cooled off and equity markets are positive," she said. "If more has to be done beyond the Budget, we are willing to do that."

Sitharaman heard the views on Budget proposal on dividend taxation, and how it will impact real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). Budget 2020 proposes to tax dividends from REITs and InvITs at the hands of the units holders.

Professionals from asset management, wealth advisory, tax consultancy, and other related fields shared their outlook in the interactive discussion.

The Finance Minister had similar interactive sessions in Mumbai, Chennai, and Kolkata last week. She will be on a two-day official tour to Hyderabad and Bengaluru on February 16 and 17 respectively.

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