Budget 2019: Highlights for NRI

Budget 2019: Highlights for NRI

Budget 2019: Highlights for NRI

The highlights for NRI are:-

  • Proposal for Issuance of Aadhar Card on arrival for NRIs with Indian Passports: FM.

  • Aadhaar card for NRI’s post arrival in India.

  • To increase NRI investment in Indian capital market – NRI portfolio scheme route and FPI route should merge.

The Finance Minister Nirmala Sitharaman had made her maiden budget of the Modi 2.0 Government in the Lok Sabha on July 5, 2019, in the Parliament.

Nirmala Sitharaman stated that NRI investment in the country shall be made much simple by merging NRI portfolio route with foreign portfolio investment.

FM Nirmala Sitharaman had proposed to issue Aadhaar cards to non-resident Indians holding Indian passport on their arrival in the country.

As per this present rule, NRIs with Indian passport are required to wait for 180 days to get the Aadhaar card.

To provide NRIs seamless access towards Indian equities, NRI portfolio investment route to be merged with foreign portfolio investment route. 
Sitharaman stated that annual global investors' meet would be organized in India, using NIIF as the anchor towards getting key sets of global players to come and invest in India.

She likewise announced for opening up FDI in aviation, media, animation AVGC, and insurance to be examined, in consultation with stakeholders, while 100 pc FDI to be allowed for insurance intermediaries.

Click here to know about Household Highlights of budget 2019


eStartIndia Team

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