Budget 2019: FM Nirmala Sitharaman Proposes Creation Of A ‘Social Stock Exchange’

Further, she stated that the government keeps villages, the poor and farmers at centrestage in every programme. “Every single rural family, except those unwilling to take connection, will have an electricity, LPG connection by 2022.”

Representational Picture (AFP)

New Delhi: Union Finance Minister Nirmala Sitharaman proposed the creation of a 'Social Stock Exchange'. Asserting that it is time to take our capital markets closer to the masses and meet various social welfare objectives related to inclusive growth and financial inclusion, the minister proposed to initiate steps towards creating an electronic fund raising platform – a social stock exchange. “The social stock exchange will be - under the regulatory ambit of Securities and Exchange Board of India (SEBI) for listing social enterprises and voluntary organizations working for the realization of a social welfare objective so that they can raise capital as equity, debt or as units like a mutual fund,” Sitharaman said. Further, she stated that the government keeps villages, the poor and farmers at centrestage in every programme. “Every single rural family, except those unwilling to take connection, will have an electricity, LPG connection by 2022.” Free LPG scheme, electricity connection has transformed rural India, Sitharaman said. Additionally, she also said time taken to complete construction of houses under Pradhan Mantri Awas Yojana has been cut to 114 days from 314 days in 2015-16 due to use of Direct Benefit Transfer platform and technology.