Union Budget 2024 | FM Sitharaman announces platforms, services for insolvency & bankruptcy code and tribunals

Sitharaman has created a record by presenting her 7th consecutive Union Budget in Parliament today.

Union Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024 in the Lok Sabha, announcing that an integrated technology platform will be set up for improving the outcomes under Insolvency & Bankruptcy Code.

She also said that debt recovery tribunals will be strengthened & additional tribunals will be established to speed up recovery.

Here's what the FM said about measures being taken for insolvency & bankruptcy code and tribunals:

- Integrated technology platform to be set up for improving the outcomes under Insolvency & Bankruptcy Code

- Services of Centre for Processing Accelerated Corporate Exit to be extended for voluntary closure of LLPs

- Debt recovery tribunals to be strengthened & additional tribunals to be established to speed up recovery

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman will be presenting her 7th Union Budget on July 23, 2024 under the Modi 3.0 government. While inflation has burnt a hole in the pockets of 'aam janata', will this Budget spell relief for Indians? Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.