Mixed message from government’s new annual policy; What’s there for capital market?

Releasing the annual policies and programmes for the upcoming fiscal year 2075-76, the newly formed left government has announced to provide conducive environment for the stock market by mobilizing the internal resources and by promoting the investment of NRNs thereby providing much-needed impetus to the only secondary market.

Reading out the annual policy, President Hon. Vidhya Devi Bhandari has announced that the government will focus on mobilizing the domestic resource in order to form national capital and to invest the same in the productive sector while mobilizing all the money which has been lying idle in different funds.

The government has also outlined an ambitious plan to provide banking access to all the citizens with a concept “One citizen one bank account” similar to which was also put forward by Modi government some years ago. With a high aim to double the banking access, the government has envisioned to conduct disbursement of all the government and institutional funds in coming days via the respective bank accounts of the citizens. Moreover, the policy has also spelled out the declaration to improve the efficiency of all the regulatory bodies so that they can ensure effective regulation and monitoring of all BFIs in the country.

The policy has also addressed the issue of NRNs with an aim to utilize their capital and skills which suggests the mood of the government to promote NRNs’ investment in upcoming days. It has further outlined the government’s commitment to utilize the remittance money to the productive sectors of the nation.