Spain acknowledged that its economy would shrink more than initially expected in 2013 and its budget deficit would be higher than promised, but the European Union gave it more time to bring the shortfall back down to bloc limits.
Armed with the Budget proposals to bring down the fiscal deficit, the Finance Ministry will pitch for a ratings upgrade at series of meetings with the global agencies over the next few weeks beginning with Fitch from tomorrow.
The National Housing Bank (NHB), the regulator for housing finance companies in India is ramping up its efforts on affordable housing, typically priced below Rs 25 lakh. It has almost finalised the scheme for Urban Housing Fund (UHF) of Rs 2,000 crore, recently announced in the Union Budget 2013.
Faced with intractable fiscal deficit situation, Finance Minister, in Union Budget 2013-14, has tried to pull out all the stops to bolster up revenue by plugging loopholes in taxation. However, this has resulted in some of most popular investments avenues losing their appeal. Read this space to know how it will impact investors.
The 3 percent hike in excise duty hike on sports utility vehicles proposed in the Union Budget could hurt UV sales and lead to a possible shift in demand to other passenger vehicle segments, Pawan Goenka, president, automotive and farm equipment sector, Mahindra & Mahindra, said on Friday.
In a move that would help boost flow of overseas funds into Indian capital markets, regulator Sebi today allowed FIIs to offer government securities and corporate bonds as collaterals for their cash and derivative transactions on the stock exchanges.
People tend to spend more time and efforts in analyzing Union Budget. While there are some points that would impact common man but other than that Budget mostly should be a non event. According to financial advisor Amit Trivedi, it is important to spend more time on ones household budget than the Union Budget.
The RBI has got to juggle with a lot of things out here. It is not an easy call particularly since their stance has been that they will fight inflation till it is dead. Once you take that kind of stance, then it is difficult to come out of that and start saying it is now growth we will be focusing on.
CRISIL Research has come out with its report on IIP data for January 2013. According to the research firm, the industrial growth is expected to recover somewhat over the next fiscal aided by a revival in consumption demand due to higher farm income and lower interest rates.
The Union Budget doesn't have any significant policy initiatives or tax incentives for the real estate sector. The Budget does propose a 1 percent Tax Deducted at Source (TDS) on property transactions. The realty index is down 9.4 percent for the week.