Budget boost for RGESS; MF distributors can become stock exchange members

Select highlights of Union Budget 2013.

Finance Minister P Chidambaram announced a number of measures for the financial markets in his budget 2013 speech.

Below are some of the key measures announced by FM:

• Mutual fund distributors allowed to become members of stock exchanges
• Investors with income of up to Rs 12 lakh can invest in Rajiv Gandhi Equity Savings Scheme (RGESS) for three years
• Dividend Distribution Tax (DDT) hiked from 12.5% to 25% in debt funds
• Securities transaction tax reduced on ETF redemptions
• RBI to introduce inflation linked bonds/certificates
• Rs 50000 crore to be allowed to raise through infrastructure bonds in 2013-14