Budget 2022 Finance: Key Highlight

WRITTEN BY Divya Bhati news

Emergency Credit Line Guarantee Scheme- ECLGS

Extended till March 2023: Under this scheme, financial institutions in India provide emergency loan facilities to various companies and MSMEs that have suffered during this Covid-19 pandemic.

Energy Transition and Climate action- Govt. Priority

This will lead to sustainable development and climate resilience. Forward-looking actions will create new jobs, stimulate growth and harvest social and health benefits.

LIC IPO

FM Nirmala Sitharaman announced that the LIC IPO will be announced shortly. This will help in meeting the disinvestment target set for the current fiscal ending March 2022.

Special Economic Zone Act

SEZ Act - Special Economic Zones in India will be replaced with a new legislation and will enable the states to become partners in development of enterprise and service hubs.

Bankruptcy code

The bankruptcy code which is a one stop solution for resolving insolvencies will be amended to speed up the resolution process.

Winding Up Companies

The govt. will aim to lower the Winding Up of Companies from 2 years to 6 months. It's the process of dissolving a company.

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