SEBI measures to deepen markets
1)
To deepen markets and help raise funds for business and
infrastructure projects, the Securities and Exchange Board of India (SEBI) announced
a slew of measures including listing of municipal bonds and setting up of a
global financial hub within India on the lines of Singapore and Dubai..
2)
It made it easier for banks
to acquire control in distressed listed companies, by converting their debt
into equity.
3)
It tightened the noose on entities indulging in market
manipulation and insider trading by selective leak of information at the cost
of investors.
4)
The market regulator announced a road map for the new fiscal with regard
to new norms to help young entrepreneurs raise funds through listing of
startups and crowd-sourcing.
5)
Adopting latest technologies, the SEBI would tap social media in a big way to reach out
to the investors and make it easier for them through measures like e-IPO and
Aadhar-based e-KYC initiatives.
6)
The SEBI also pitched for allowing pension money into capital
markets and creating an enabling environment for REITs (Real Estate Investment
Trusts) to flourish.
7)
To safeguard interest of investors, listed companies would need to
disclose their board decisions within 30 minutes, while all other ‘material
information’ would need to be made public within 24 hours, failing which they would
face strict penal action.
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India's re-worked growth numbers
1)
A new methodology, unveiled toward the end of January by the CSO,
presented a rosier picture of the Indian economy than previously imagined.
2)
It indicated a growth in GDP of 6.9 per cent in 2013-14 from the
4.7 per cent estimated earlier.
3)
A lot has changed from the old framework :
I.
One change made relates to the base year, on which comparisons are
made. Now the base year is 2011-12 where as previously, the GDP was computed on
2004-05 base year.
II.
There is now an attempt to capture value addition, rather than
growth through volumes, in the calculation of the Gross Domestic Product (GDP).
III.
Data from newer, more sophisticated corporate databases have been
used.
IV.
GDP will be measured at market prices, by adding taxes to and
reducing subsidies from what used to be the main measure till now, GDP at
factor cost.
4)
All these changes are important for Indian metrics to match
international ones.
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