Here's what the financial sector wants from budget 2020

Countdown to budget 2020 has begun and just 46 days left for finance minister Nirmala Sitharaman to present her second budget on the first of February. The finance minister is holding pre-budget consultations with various industries and stakeholders before she starts preparing for the final document. Stakeholders from the financial sector and capital markets presented their budget wishlist to the finance minister. The representatives demanded reduction in goods and services tax levied on term insurance, in order to increase its penetration. They also highlighted the need for governance changes in public sector banks, enhancing credit off-take from banks, risk capital issues, improving functioning and alleviation of stress among NBFCs.