Celebrating 25 years of NSE, FM Sitharaman pledges now, to reduce stock exchange transaction, compliance costs

Mumbai, November 05: Citing the 25th anniversary of the National Stock Exchange today , Finance Minister Nirmala Sitharaman in Mumbai affirmed to look into reducing the transaction and compilation costs for operating stock exchanges.

 

Acknowledging that the real estate sector is in deep trouble, FM Nirmala Sitharaman further said that though the government has taken measures, more needs to be done to help the sector recover from the downturn.

 

 

"The sluggishness in the real estate sector needs to be addressed. Core industries and home buyers will benefit if real estate sector revives. I am glad to say that a lot of funds have approached us as they wish to do something in the real estate sector provided they receive our help", she added.

 

She also said that several homebuyers are looking at the government for solution to revive the sector, and that government is working towards measures on the same. "The interest being shown by the many sovereign funds and pension funds in our markets is not only because of our earnings, but because of their trust in the manner which we have organised ourselves", she said.

"One can see the tangible benefits due to the use of technology. Camps to inform retail investors about the stock market have been setup in close to 600 districts, 4,500 courses are held on a calendar year-to-year basis to get more people to become players in the stock market.”

 

She also noted that after the setup of the NSE in 1990s, it has covered nearly 2,000 cities and setup 2 lakh servers to improve access to stock market activity. Also present at the event was Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi, who said that though India has seen an exciting and challenging journey in the development of its capital markets, its market cap to GDP ratio is still very low as compared to some developed market.