Finance Minister Nirmala Sitharaman on Friday proposed to issue Aadhaar cards to non-resident Indians holding Indian passport on their arrival in the country.
Under the present rule, NRIs with Indian passport are required to wait for 180 days to get the Aadhaar card.
"I propose to consider issuing Aadhaar cards for NRIs with Indian Passports after their arrival in India without waiting for mandatory 180 days," Sitharaman said in her budget speech.
As on May 31, 2019, the Unique Identification Authority of India (UIDAI) had generated a total of 123.82 crore Aadhaar to residents of the country.
For those unaware, according to the Unique Identification Authority Of India (UIAI), the current scenario of "Can NRIs also get Aadhaar?" said:
"As per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, only a resident who has resided in India for a period or periods amounting in all to 182 days or more in the 12 months immediately preceding the date of application for enrolment is eligible for Aadhaar."
Meanwhile, Finance Minister Nirmala Sitharaman on Friday said that NRI investment in the country would be made much easier by merging NRI portfolio route with foreign portfolio investment.
"To provide NRIs seamless (access) to Indian equities, NRI portfolio investment route will be merged with the foreign portfolio investment route," she said while presenting the Union Budget for 2019-20 in the Lok Sabha on Friday.
She said that annual global investors' meet would be organised in India, using NIIF as "the anchor to get key sets of global players to come and invest in India." She also announced to open up FDI in aviation, media, animation AVGC, and insurance to be examined, in consultation with stakeholders, while 100 pc FDI to be permitted for insurance intermediaries.
(With inputs from agencies)