Union Budget 2014-15

 Union Budget 2014-15 Financial Sector

Union Finance Minister Arun Jaitley on 10th July released the Union Budget and the union Budget to energize the capital markets has been introduced the KYC records across the financial sectors. One single Demat Account and uniform tax treatment for Pension fund and Mutual Fund.

The measures to be takes are

1. Ongoing process of Consultations with the Stakeholders on the enactment of the Indian Financial Sectors and reports to the FSLRC.
2. Government in close consultation with the RBI.
3. Introduction of Uniform KYC norms
4. Inter usability of KYC across the entire financial sector.
5. Introducing one single operating demat account
6. Uniform tax treatment for the pension and Mutual fund retirement plan.