Sitharaman proposes increase of minimum public shareholding to 35 pc

Finance Minister Nirmala Sitharaman Friday said the time is right to consider increasing minimum public shareholding from 25 per cent to 35 per cent. Presenting her maiden Union Budget, Sitharaman said the government has already written to Sebi regarding the matter.

She also said Electronic Fundraising Platform, a social stock exchange, will be set up to list social enterprises and voluntary organisations working for social welfare objectives. Stressing that the government keeps villages, the poor and farmers at centrestage in every programme, she said every single rural family, except those unwilling to take connection, will have an electricity, LPG connection by 2022.

Free LPG scheme, electricity connection has transformed rural India, Sitharaman said. She also said time taken to complete construction of houses under Pradhan Mantri Awas Yojana has been cut to 114 days from 314 days in 2015-16 due to use of Direct Benefit Transfer platform and technology.

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