In Budget 2011-12, Government didn’t focus to reduce healthcare cost as they made no proposals on reducing excise duty, tax holiday on healthcare infrastructure and weighted deduction for expenses incurred outside R&D facility like overseas trials, preparations of dossiers, consulting & legal fees on healthcare and pharmaceutical sector. It also not extended the list of [...]
Full Story »Budget Impact on Banking Sector is positive
Union budget 2011-12 is positive for public sector bank in term of recapitalization. The Finance Minister proposed to provide capital infusion of Rs. 6000cr in public sector banks (PSBs) to maintain Tier-I capital to CRAR at 8%. The finance minister proposed to raise the target of credit flow to farmers to Rs. 475000cr in FY2011-12 [...]
Full Story »Budget Impact on Textile Industry
Union Budget 2011-12 has been positive for the Textile Sector. The Finance Minister has proposed to provide Rs. 3,000 crore to NABARD, which will benefit 15,000 cooperative societies and about 3 lakh handloom weavers. The optional levy of duty on garment and made-ups industry has been converted into mandatory duty of 10%. Proposal Current Status [...]
Full Story »Budget Impact on Oil & Gas Industry is negative
The union budget provided no respite to the mounting under recovery for the Oil Marketing Companies (OMC’s). We expected a decline in the import duty on grounds of rising crude oil prices and losses pertaining to the industry mainly due to the subsidy sharing aspect. But with only consideration to the LPG and Kerosene, which [...]
Full Story »Budget Impact on IT industry is negative
The Finance Minister announced some unexpected moves which will hurt the IT companies in the form of higher taxes after the proposed higher Minimum Alternate Tax (MAT) rate of 18.5% for units operating in Special Economic Zones (SEZ) and on developers of the SEZs. IT companies have been migrating to special economic zones as tax [...]
Full Story »Budget Impact on Steel Industries is positive
Overall the union budget has been POSITIVE for the Steel sector considering our expectations. The budget provided for enhancing infrastructure spending to Rs 2, 14,000cr which will boost the demand for steel products. However, hike in Iron Ore export duty to 20% came in as a surprise, which will provide the much needed respite to [...]
Full Story »Budget impact on Infrastructure sector
The development of world level Infrastructure remains the key focal area in the Union Budget 2011-12, with budgeted spending in infrastructure estimated at Rs 2,14,000cr an hike of over 23% from Rs 1,73,000cr during 2010-11, providing 48.5% of the plan allocation. The budget has proposed to provide the much needed foreign investment in Indian infrastructure [...]
Full Story »Tax Proposals in Union Budget 2011
DIRECT TAXES Exemption limit for the general category of individual taxpayers enhanced from Rs. 1,60,000 to Rs 1,80,000 giving uniform tax relief of Rs. 2,000. Exemption limit enhanced and qualifying age reduced for senior citizens Higher exemption limit for Very Senior Citizens, who are 80 years or above. Current surcharge of 7.5% on domestic companies [...]
Full Story »Budget 2011 Sector wise policy
The Union Budget 2011-12 presented by Finance Minister seems balanced and growth oriented. Budget 2011-12 laid the foundation for the roll out of DTC and GST. Proposed increased exemption limit was in-line with market expectations. Investment reforms for FIIs and FDIs came in as a surprise which has been a major cause of concern in [...]
Full Story »Budget 2011 Highlights
The Union Budget 2011-12 presented today by the Finance Minister seems balanced and growth oriented. Agriculture, Infrastructure and Social sector have been the focus areas. The budget has sought to promote growth with an inclusive agenda. Consequently, substantial plan outlay has been devoted to social and rural development. The Finance Minister expressed his concern over [...]
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