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    Finance Minister of India Points

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    rakshanthmohanraj

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    Finance Minister of India Points

    Uploaded by

    rakshanthmohanraj
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    finance minister of India points

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    2 views3 pages

    Finance Minister of India Points

    Uploaded by

    rakshanthmohanraj

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    finance minister of

    India

     Budget Presentation: Prepares and


    presents the Union Budget, setting
    economic priorities and fund allocations.
     Taxation & Revenue: Oversees tax
    policies and revenue collection through
    direct and indirect taxes.
     Debt Management: Manages government
    borrowing and debt levels for fiscal
    stability.
     Economic Policy: Formulates policies for
    growth, inflation control, and balance of
    payments.
     Banking Oversight: Regulates banks and
    collaborates with RBI on monetary policies.
     Foreign Investment & Trade: Attracts FDI
    and promotes exports to strengthen trade.
     Government Expenditure: Regulates
    spending and ensures fiscal discipline
    across departments.
     Subsidies & Welfare: Manages funds for
    subsidies and welfare schemes.
     International Representation: Represents
    India in forums like G20, IMF, and World
    Bank.
     Fiscal Reforms: Initiates reforms like GST
    for a modernized financial system.

    major policies introduced by the Finance


    Ministry of India with the most impact:
    1. Goods and Services Tax (GST):
    Unified indirect taxes into a single tax,
    simplifying compliance and promoting a
    common national market.
    2. Insolvency and Bankruptcy Code
    (IBC): Streamlined the process of
    handling bad debts, improving the ease
    of doing business and financial stability.
    3. Atmanirbhar Bharat Package: COVID-
    19 stimulus to boost self-reliance across
    sectors, especially MSMEs, agriculture,
    and infrastructure.
    4. Bank Recapitalization & Mergers:
    Strengthened public sector banks
    through capital infusion and strategic
    mergers to enhance efficiency.
    5. Pradhan Mantri Jan Dhan Yojana
    (PMJDY): A financial inclusion initiative
    providing millions with bank accounts,
    enabling direct benefit transfers and
    improved economic access.
    These policies have had significant impacts
    on financial inclusion, economic stability,
    and business ease in India.

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