The move is an effort to incentivise domestic angel and venture capital funds to invest more in new Indian firms and broaden their funding sources.
The ministry had also arrived at the cost escalation at 2013-14 price level and submitted it to the finance department along with the 2017-18 price level escalation.
Tribal affairs, culture ministries to be worst hit as funding for non-priority Government schemes to be cut
Government officials claim that this will have some impact on the funding for some cultural programmes and grants to NGOs who are working in the segments.
The economy is projected to contract by a massive 10.3 per cent this year, according to an IMF forecast.
The Finance ministry has said that it will look into the complaints of the Khadi and Village Industries Commission (KVIC) on banks unwilling to lend to small businesses.
The Centre borrowing on behalf of states is likely to ensure that a single rate of borrowing is charged and this would also be easy to administer.
The loan amounts sanctioned by PSBs increased to Rs 81,648.82 crore, of which Rs 68,814.43 crore has been disbursed as of October 5, Sitharaman said.
While sharing the progress of implementation of various other schemes under Aatmanirbhar Bharat Abhiyan package, it said banks have approved the purchase of portfolio of Rs 25,505 crore.
The budget will have to address critical issues pertaining to growth contraction and subdued revenue collection triggered by the COVID-19 pandemic.
The GST revenue in April was Rs 32,172 crore, May (Rs 62,151 crore), June (Rs 90,917 crore), July (Rs 87,422 crore), August (Rs 86,449 crore).
Similar feedback was given by the Rajiv Mehrishi panel, whose report is yet to be made public, the official added.
It had also introduced a grandfathering mechanism for the computation of LTCG for these shares, for which scrip-wise information is necessary.
The second-quarter result will give an idea as to which bank may require regulatory capital and accordingly recapitalisation bonds would be issued to them, sources said.
Sources said that in 2017-18, Rs 62,611 crore was collected, out of which the government released full compensation dues of Rs 41,146 crore to the states and union territories (UTs).
According to current rules, states cannot borrow more than 3 per cent of their GSDP.