Social Stock Exchange as a Pillar of Welfare and Development in the Indian Economy

Indias finance minister, Smt. Nirmala Sitharaman, proposed the creation of Social Stock Exchange SSE in her 2019 20 budget speech. The SSE works like the BSE and NSE. Normal stock markets allow profit driven enterprises to offer their securities to attract profit seeking investors and raise capital. Similarly, SSE would allow social businesses to list their securities to attract philanthropic donors to finance their public welfare initiatives, such as boosting education and developing health care facilities. SEBI created the SEBI SSE Working Group in 2019 to recommend SSE operating procedures. Working Group report released in June 2020. In September 2020, SEBI established a Technical Group on SSE, which advanced the work of the SEBI SSE Working Group by recommending eligibility criteria for listing -‘social enterprises' on SSE, the mechanism for listing social enterprises, the mechanism for auditing social enterprises, and the disclosure norms to be followed by social enterprises, etc. In India, SSE is a new concept. Not yet. In this paper, the author examines SSEs idea, necessity, operation mechanism, regulatory standards, the role of social businesses, operation of SSE in other countries, problems SSE may face, and ways to overcome these barriers so SSE can achieve its objective. Prof. Shashi Kant Tripathi | Smarika Mishra | Sameer Pandey "Social Stock Exchange as a Pillar of Welfare and Development in the Indian Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52169.pdf Paper URL: https://www.ijtsrd.com/humanities-and-the-arts/economics/52169/social-stock-exchange-as-a-pillar-of-welfare-and-development-in-the-indian-economy/prof-shashi-kant-tripathi