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Budget Speech & Headlines

MARKET ACTION

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Income Tax Impact

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SME

"Union Budget 2017 proposed to offer many benefits on small and medium enterprises (SME) in the country. Income tax on companies with annual turnover of less than Rs 50 crore per year has been reduced to 25% from the earlier 30%. The lending target for Pradhan Mantri Mudra Yojana (MUDRA) has been doubled to Rs 2.44 crore for FY2017-2018.
Finance Minister Arun Jaitley also decided to continue the preferential taxation announced last year. Under the scheme of presumptive taxation, 8% of the turnover is counted as income in case of the taxpayers’ turnover is less than Rs 2 crore. As per new proposal this is brought down to 6% for the turnover received by non-c.."

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BROKER

"Finance minister did not change the existing definition of tax on long term capital gains on stocks. This came as a big relief for the investing community. The expectations for the lower costs in terms of removal of Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT) did not meterialise.
Union Budget 2016 also had some positives that saved the day for the brokers. Finance Minister Arun Jaitley announced that the commodities markets require further reforms for the benefits of farmers. An expert committee will be constituted to study and promote creation of an operational and legal framework to integrate spot market and derivatives market fo.."

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INVESTOR

"Budget 2017 triggered a relief rally on the bourse as investors rejoiced the government’s decision to retain the existing provision on long term capital gains tax exemption on stocks. During the run up to the Budget there was talks that the government was considering increasing the holding period for LTCG for tax exemption from 12 months to 36 months.
On another front, Finance Minister Arun Jaitley reduced the time period required to qualify for the long term capital gains on property from 36 months to 24 months. The Finance Minister has also announced the abolition of Foreign Investment Promotion Board (FIPB). This is seen as a big positive in the form of.."

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SALARIED PERSON

"Hopes of salaried individuals for major tax relief were belied by the Finance Minister, Arun Jaitely, as the budget offered minimal benefits. Jaitley proposed to reduce the existing rate of taxation for individual assesses having income of Rs 2.5-Rs 5 lakh to 5% from the present rate of 10%.
Alongside, the Finance Minister proposed to levy a surcharge of 10% of tax payable on individuals whose annual taxable income is between Rs 50 lakh and Rs 1 crore. The Finance Minister, however, decided to cap the rebate benefit to Rs 2,500 to assesses up to Rs 3.5 lakh to avoid the duplication of benefit. This means that an individual earning up to Rs 3 lakh per year ne.."

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STUDENT

"Finance Minister Arun Jaitley announced ‘Youth’ as the focus area for his budget for the FY2017-2018. A slew of announcement indicating higher investments benefitting younger population of India in the sector such as education and skill developed should be a big positive aspect of this budget.
Quality education remained the pillar of the proposed policy in Budget 2017. Finance Minister announced, “We propose to leverage information technology and launch SWAYAM platform with at least 350 online courses. This would enable students to virtually attend the courses taught by the best faculty; access high quality reading resources; participate in discussion .."

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SENIOR CITIZENS

"Finance Minister Arun Jaitley offered Aadhar based Smart cards containing health details to the senior citizens. A scheme offering 8% guaranteed pension by LIC is the only other thing that the senior citizens could take home in Union Budget 2017. The details of the scheme will be announced by LIC soon.
The senior citizens had high hopes from the Union Budget 2017. However most expectations did not materialise. There was a hope of a hike in health insurance tax benefit to Rs 50,000 for senior citizen. There was also expectation of tax sops under Section 80C of the Income Tax Act..."

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HOME MAKER

"Taking constructive steps for betterment for women and homemakers, Finance Minister Arun Jaitley announced preferential treatment for MUDRA loans or the higher allocation to ICDS Anganwadi centers.
The Finance Minister announced that Mahila Shakti Kendra will be set up at village level with an allocation of Rs 500 crore in 14 lakh ICDS Anganwadi Centres. This will provide one stop convergent support services for empowering rural women with opportunities for skill development, employment, digital literacy, health and nutrition. The budget highlighted the nationwide scheme for financial assistance to pregnant women announced by the Prime Minister on December 31.."

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BUSINESSMAN

"Finance Minister Arun Jaitley offered Aadhar based Smart cards containing health details to the senior citizens. A scheme offering 8% guaranteed pension by LIC is the only other thing that the senior citizens could take home in Union Budget 2017. The details of the scheme will be announced by LIC soon.
The senior citizens had high hopes from the Union Budget 2017. However most expectations did not materialise. There was a hope of a hike in health insurance tax benefit to Rs 50,000 for senior citizen. There was also expectation of tax sops under Section 80C of the Income Tax Act.
Due to slow economic recovery in India and demonetization in the last quarte.."

  • Budget Day intraday advance decline

    Advance: 1228
    Decline: 1538
  • rate the budget

    How would you rate Budget 2017?

    62.45% Good

    11.45% Average

    26.10% Bad

  • Where will the sensex close Today?

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Ajay Jain

CEO , www.astromoneyguru.com

(27 Feb, 2017, 14:00hrs)

What do stars foretell?

Upcoming Chats

Yogiraj Mahajan

Sushil Finance | 27, Feb, 13:00hrs

Ajay Jain

www.astromoneyguru.com | 27, Feb, 14:00hrs

Previous Transcripts »

Budget Action

Sector Impact
Select sector to see impact

Cement - Major

01 Feb, 2017, 13:19

UltraTechCement 3786.10 8.30
Shree Cements 16390.30 253.05
Ambuja Cements 232.00 -1.15
ACC 1438.10 -9.50

Refineries

01 Feb, 2017, 12:44

Reliance 1182.75 -24.75
ONGC 196.00 0.40
IOC 385.10 -4.95
BPCL 717.65 3.35

Budget Reactions

This is a growth-oriented Budget which has ensured that almost nobody is stressed with any additional taxes.
The Budget is strong on reforms, fiscal numbers and macroeconomic parameters. It will boost the rural and agriculture sectors.
By and large a fairly routine Budget in the sense there are number of expenditure items which are indicated but there are not been much changes on the revenue side. Happy that the fiscal deficit is maintained at 3.2 percent.
A very workmen like Budget. Got some clear indications about how to broaden the tax base in India, developments around improving transparency, efficiency, these are all good things.
The property long-term capital gain tax has been reduced to two years but one has to read the fine print.
A good Budget, has done a lot for housing and for rural development. Disappointed with no announcement on corporate tax.
There needs to be a big impetus on job creation, especially startups.Sectors such as housing can be crucial to migrant labour and create job opportunities.
There could be likely tinkering of personal tax where the minimum slab for individuals could be increased but unlikely that changes would be made to indirect taxes.
The markets wont take it lightly if a tax burden is imposed on Long Term Capital Gains.
Govt might look at moving fiscal deficit to 3.3 percent. Positive on Indian equities - financials and infra. Wary of healthcare, IT.

This is a growth-oriented Budget which has ensured that almost nobody is stressed with any additional taxes.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Piyush Goyal

Minister of Power and Energy | Government of India

This is a growth-oriented Budget which has ensured that almost nobody is stressed with any additional taxes.

The Budget is strong on reforms, fiscal numbers and macroeconomic parameters. It will boost the rural and agriculture sectors.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Shaktikanta Das

Secretary | Economic Affairs

The Budget is strong on reforms, fiscal numbers and macroeconomic parameters. It will boost the rural and agriculture sectors.

By and large a fairly routine Budget in the sense there are number of expenditure items which are indicated but there are not been much changes on the revenue side. Happy that the fiscal deficit is maintained at 3.2 percent.

Reaction on : Corporate Tax | Fiscal Deficit | GST

C Rangarajan

Ex-chairman | PMEAC

By and large a fairly routine Budget in the sense there are number of expenditure items which are indicated but there are not been much changes on the revenue side. Happy that the fiscal deficit is maintained at 3.2 percent.

A very workmen like Budget. Got some clear indications about how to broaden the tax base in India, developments around improving transparency, efficiency, these are all good things.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Adrian Mowat

Chief Asian & Emerging Market Strategist | JP Morgan

A very workmen like Budget. Got some clear indications about how to broaden the tax base in India, developments around improving transparency, efficiency, these are all good things.

The property long-term capital gain tax has been reduced to two years but one has to read the fine print.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Madhu Kela

Chief Investment Strategist | Reliance Capital

The property long-term capital gain tax has been reduced to two years but one has to read the fine print.

A good Budget, has done a lot for housing and for rural development. Disappointed with no announcement on corporate tax.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Deepak Parekh

Chairman | HDFC

A good Budget, has done a lot for housing and for rural development. Disappointed with no announcement on corporate tax.

There needs to be a big impetus on job creation, especially startups.Sectors such as housing can be crucial to migrant labour and create job opportunities.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Sunil Munjal

Joint MD | Hero Moto

There needs to be a big impetus on job creation, especially startups.Sectors such as housing can be crucial to migrant labour and create job opportunities.

There could be likely tinkering of personal tax where the minimum slab for individuals could be increased but unlikely that changes would be made to indirect taxes.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Govindrajan Chellappa

MD & Head of Research Ind | Jefferies

There could be likely tinkering of personal tax where the minimum slab for individuals could be increased but unlikely that changes would be made to indirect taxes.

The markets wont take it lightly if a tax burden is imposed on Long Term Capital Gains.

Reaction on : Corporate Tax | Fiscal Deficit | GST

Hiren Ved

Director & CIO | Alchemy Capital Management

The markets wont take it lightly if a tax burden is imposed on Long Term Capital Gains.

Govt might look at moving fiscal deficit to 3.3 percent. Positive on Indian equities - financials and infra. Wary of healthcare, IT.

Reaction on : Corporate Tax | Fiscal Deficit | GST

James Sullivan

Head APxJ Equity Research | JP Morgan

Govt might look at moving fiscal deficit to 3.3 percent. Positive on Indian equities - financials and infra. Wary of healthcare, IT.

Vikram Hosangady

Vikram Hosangady

Partner and Head - Deal Advisory | KPMG India

Rubi Arya

Rubi Arya

Executive Vice Chairman | Milestone Capital Advisors

Shilpa Kumar

Shilpa Kumar

MD & CEO | ICICI Securities

budget and the market

company/Action price Change

Reliance

Buy

1182.60 -25.05

Interglobe Avi

Hold

838.05 -10.20

SpiceJet

Buy

71.30 -1.30

ITD Cementation

Hold

153.85 3.70

Vinati Organics

Hold

752.60 -5.15

Repco Home

Buy

663.50 -17.25

Oriental Carbon

Buy

862.00 6.90

Sun Pharma

Buy

675.40 5.00

Sarla Performan

Buy

61.90 -1.85

Reliance

Buy

1182.60 -25.05

Sanjiv Bhasin

Siddharth Sedani

N Narasimhan

Girish Vanvari

Arnav Pandya

  • Reduce existing tax rate for income of Rs 2.5-5 lakhs to 5% from 10%, says FM
  • Peg fiscal deficit for 2017-18 at 3.2%, in-line with market expectations, says FM
  • Net borrowing limited to Rs 3.48 lk cr, says FM
  • Propose to make changes in capital gains tax for housing, says FM
  • Propose carry-forward of MAT to 15 years from 10 years, says FM
  • Maximum cash donation receivable by political party from one source at Rs 2,000, says FM
  • Govt raises allocation for MNREGA from Rs 38500 cr in FY17 to Rs 48000 cr in FY18, says FM
  • Govt doubles lending target of banks to Rs 2.44 lakh cr
  • Allocation of capital expenditure up 25% YoY, says FM

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