Corp Affairs Min gets higher budgetary allocation of Rs 728 cr

New Delhi, Feb 1 () The Corporate Affairs Ministry will be getting 24 per cent higher allocation at Rs 727.62 crore in the next fiscal, according to the Union Budget 2020-21.

The ministry was allocated Rs 586.34 crore for 2019-20 and the amount was later revised downwards to Rs 576 crore.

Out of the total allocation in the 2020-21 Budget, tabled in the Parliament on Saturday, an amount of Rs 66 crore has been set aside for the Competition Commission of India (CCI), while Rs 44.60 crore has been kept for the Insolvency and Bankruptcy Board of India (IBBI).

Under the Corporate Law Regulation category, an amount of Rs 275.56 crore has been allocated.

Registrar of joint stock companies and regional directors, official liquidators, among others, come under this category.

The ministry implements the companies law. RAM RVK