Amid rupee decline and hike in fuel prices, the ruling dispensation said on Friday, September 14 that it has taken 5 new initiatives. Finance Minister Arun Jaitley said the ruling BJP is seeking to maintain the fiscal deficit and is confident of meeting the fiscal deficit target. Primarily, the decisions were taken by the Prime Minister Narendra Modi, who was accompanied by RBI Governor and other ministry officials. Media reports say the government will hold another economic review meeting alongside key policymakers on Saturday to discuss possibilities by the Centre to tackle macroeconomic challenges.
Here are the 5 key measures the Centre took on Friday
1 Mandatory hedging conditions for infrastructure loans will be reviewed.
2 Masala bonds issued in Financial Year 2019 will be exempted from withholding tax
3 To allow manufacturing sector companies/groups to avail external commercial borrowings up to $50 million.
4 Removal of restrictions on Indian banks’ market making in Masala Bonds, including restrictions on underwriting of such bonds.
5 Import curbs on non-important items shall come into effect and the Centre will also take decisions to boost exports