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A five-year vision document will be introduced to address the financial needs of the economy. This strategic plan will set clear priorities and actions to support economic growth and development over the next five years read more
 "FM introduces plans to simplify rules in bid to attaract FDI")
FM Nirmala Sitharaman presenting Union Budget 2024 in India's Parliament.
In her Union Budget 2024-25 presentation on Tuesday, Finance Minister Nirmala Sitharaman outlined several key initiatives aimed at attracting foreign investment and strengthening the Indian economy.
She said, the government will simplify Foreign Direct Investment (FDI) rules to make India a more attractive destination for global investors. This change is expected to ease the investment process and boost foreign capital inflows.
A five-year vision document will be introduced to address the financial needs of the economy. This strategic plan will set clear priorities and actions to support economic growth and development over the next five years.
The government will promote privatisation initiatives and encourage the use of the Indian rupee for international investments. These steps aim to strengthen the domestic economy and enhance the global use of the Indian currency.
To better manage investments in climate-related projects, a new taxonomy for climate finance will be developed. This will improve the alignment of financial flows with climate goals and enhance transparency in climate investments.
The Shram Suvidha Portal, designed to streamline compliance for industry and trade, will be revamped to improve its functionality and efficiency, making it easier for businesses to meet regulatory requirements, the FM announced.
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English (US) ·