Finance Minister Nirmala Sitharaman on Sunday said that the government is taking many steps for ease of doing business in the country. Announcing an economic package of Rs 20 lakh crore, the Finance Minister said on Sunday that Indian companies will now be able to directly list their securities i.e. securities in permitted foreign markets. She also said that private companies listing non-convertible debentures on the stock exchange will not be considered listed companies. The Finance Minister also said that India's ranking has improved in the ranking of Ease of Doing Business from IBC and improvement in ranking related to starting business in the country.
Regarding this matter, she said that a Public Sector Enterprises Policy will be brought for a new and self-reliant India. She said that under this policy, all sectors will be opened to the private sector. Under the new policy, some sectors will be notified as strategic sector. She said that there will be at least one public sector company in the notified strategic sector. However, private sectors will also be included in the strategically important sector. According to the Finance Minister, there will be no more than four public sector companies in the strategically notified sector. She said that if there are more than four companies in a strategic area, then they will be merged.
In his statement further, the Finance Minister said that public sector companies working in sectors other than strategy sector will be privatized. The Finance Minister said this in the fifth and last phase of the announcement of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi on May 12.
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