The government supports the development of a global fintech hub in the proposed Union Budget 2021-22. Finance Minister Nirmala Sitharaman also proposed the creation of a permanent institutional framework to help in the development of a bond market. She proposed to introduce an Investor Charter as the right of all investors across all financial products. To give a further boost to the non-conventional energy sector, the budget proposes to provide an infusion of Rs 1000crores to Solar Energy Corporation of India and Rs 1500crores to Indian Renewable Development Agency. She also proposed the amendment of the Insurance Act of 1938 to increase the permissible FDI limit from 49% to 74% in insurance companies.