Government has taken necessary policy measures for financial stability: Official

NEW DELHI: The government has installed position essential policy measures to result in monetary steadiness, an official stated Saturday, whilst claiming that the management has "almost" wiped clean the NPA mess.

The transaction cost in Indian exchanges, including commodities transaction tax (CTT) and securities transaction tax (STT), is upper than international marketplace places akin to Singapore and Hong Kong, stated C S Mohapatra, further secretary, division of economic affairs.

He famous that over a time period the transaction cost should be lowered.

Mohapatra used to be talking at the once a year convention on 'Capital Market & Commodity Market – Moving Towards $five Trillion Economy' organised by PHD Chamber of Commerce and Industry right here.

The official observed that the government has tried its highest and already installed position essential policy measures to result in monetary steadiness in the institutional mechanism of the country which would make manner to achieve desired targets.


With regard to non-performing assets (NPAs) scenario, Mohapatra stated: "We have cleaned it up almost and we have also strengthened through IBC (Insolvency and Bankruptcy Code), through NCLT (National Company Law Tribunal) ..."


He also identified that a critical software towards attaining the $five trillion measurement of the Indian economic system will probably be concentrating more on increased efforts to result in more monetary literacy and intensive monetary inclusion within the actual stakeholders in commodities and capital marketplace.


"When we talk of a $5 trillion economy, it is important that we also understand that such targets cannot be achieved without including the commodities market," stated Neeraj Kulshrestha, Chief of Business Operations, BSE.


In the ultimate 23-24 years, Indian markets have modified dramatically, stated NSE Business Development chief Ravi Varanasi, including that across products we've got proven that we have got the most productive conceivable era and infrastructure to provide for traders to get entry to the markets.
Government has taken necessary policy measures for financial stability: Official Government has taken necessary policy measures for financial stability: Official Reviewed by kailash soni on September 15, 2018 Rating: 5
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