MUMBAI : The last Union budget announced some key measures in taxation, public float in listed companies, and innovative trading platforms. However, the big shocker was the surcharge on foreign portfolio investors (FPIs), prompting many investors to pull out of India. Union finance minister Nirmala Sitharaman announced that the Securities and Exchange Board of India (Sebi) will increase the public float for listed companies to 35% from the existing 25%. Other issues include potential flight of capital and the inability of state-owned companies to raise public float to even 25%. The 2019-20 budget proposed a social stock exchange and a transparent electronic fund-raising platform for organisations working on social welfare.

Source: Mint January 26, 2020 18:22 UTC