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ARTICLE · 09 APRIL 2015

Major Changes In The Financial Market Budget 2015-16

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Announcing the Union Budget in the Lok Sabha for the year 2015-16, Finance Minister has proposed various changes in order to boost the Indian Financial Market.

IndiaFinance and Banking
Megha Kapoor
Megha Kapoor
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INTRODUCTION

Announcing the Union Budget in the Lok Sabha for the year 2015-16, Finance Minister has proposed various changes in order to boost the Indian Financial Market. The various reforms as brought up by the Finance bill have been discussed below:

PROPOSAL TO MERGE FMC WITH SEBI

With a view to strengthen the regulation of commodity forward markets and to reduce wild speculation, Finance Minister has proposed to merge the commodity market regulator Forwards Markets Commission (FMC) with the capital market regulator Securities and Exchange Board of India (SEBI).

FMC, a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952 (FCRA) is a regulatory authority overseen by the Ministry of Finance, Government of India. The Hitherto, the Commission is a chief regulator of commodity futures markets in India and allows commodity trading in 22 exchanges in India.

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