Current context: A high powered panel on Social Stock Exchanges (SSE) incorporated by the Securities and Exchange Board of India (SEBI) has prepared draft norms for the Social Stock Exchange.
a. Budget 2019-20
b. Budget 2018-19
c. Budget 2017-18
d. Budget 2016-17
- The SSE committee is chaired by Ishaat Hussain, Director, SBI Foundation.
- The creation of a social stock exchange and electronic transparent fundraising platform for organisations working on social welfare was mooted in the 2019-20 budget proposal.
- Considering the proposal, the Institutional Trading Platform (ITP) is envisaged with limited trade-ability to select investors.
- ITP is a trading platform that will allow listing and trading of specified securities for informed investors.
- Till now, there is no set benchmark, no uniform structures to set minimum thresholds to enable the listing of social enterprises.
- In the Budget 2019-20, it was announced that the electronic fundraising platform was meant for listing social enterprises and voluntary organizations working towards realising a social welfare objective so that they can raise capital as equity, debt or as units like a mutual fund.
Question:
Q.1 In which year’s Union Budget, the creation of a social stock exchange and electronic transparent fundraising platform for organisations working on social welfare was announced?a. Budget 2019-20
b. Budget 2018-19
c. Budget 2017-18
d. Budget 2016-17
