Budget 2024 Expectations: Raman Aggarwal Discusses Retaining GIFT City Revenue In India

Raman Aggarwal, Co-Chairman of FIDC, discusses the recent meeting with the Finance Minister, sharing expectations for the upcoming budget and industry body suggestions. Aggarwal emphasizes the need for increased funding for NBFCs, highlighting the RBI's stance that NBFCs are overly dependent on banks for funds and that this reliance should be reduced. Additionally, he suggests measures to retain revenue generated from GIFT City within India, as currently, a significant portion of this revenue is flowing out of the country.