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GeStepAhead GrowMyMoney The Winning Leap Tech Control

Budget 2017

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DAYS hours minutes

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Budget 2017

  • FM to present Union Budget on February 1, 2017

budget expectations

GST

The Centre and states are currently locked in hectic confabulations over finer details of Goods and Services Tax (GST).

Once implemented, GST, billed as India’s most ambitious reforms move, will stitch together a common national market, dismantle fiscal barriers among states and consolidate a patchwork of local and central duties such as excise into a single levy.

With the original deadline of April rolling out the new indirect tax system looks missed for now, Finance minister Arun Jaitley is widely expected to announce GST’s implementation schedule in the upcoming budget 2017-18.

Under law, India will have to implement GST on or before September 15, 2017. After GST, Part B of the Union Budget speec ...

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Demonetisation

The “demonetisation” of Rs 500 and Rs 1000 in November has set in motion the biggest currency culling exercise in the modern era. Prime Minister Narendra Modi has talked about ushering India to “less-cash” society.

How potent will be the shadow of demonetisation over the union budget 2017-18? What are the kind of measures that one can expect to offset the pain, as also deal with black money and incentivizing digital transactions?

Amid the din of howls of protest against the sudden drain out of currency notes, the government is believed to be giving final touches to a comprehensive strategy to wean people away from cash transactions.

There are heightened expectations that finance minister Arun Ja ...

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Income Tax

After GST, the focus in the budget will be on direct tax reforms. Expect big announcements in the income tax slabs and rates. For instance, there is a possibility of raising the income tax exemption limit substantially from Rs 2.5 lakh per annum currently.

The government is working on the assumption that in times of cash crunch, the best way to achieve higher spending is by raising disposable income through tax breaks.

Finance minister Arun Jaitley may also raise tax breaks offered on money parked in a pool of savings instruments including bank fixed deposits, insurance premium and mutual funds from Rs 150,000 to Rs 200,000 a year under the popular “Section 80C” scheme.

The, move is aimed at encourag ...

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Corporate Tax

The government may cut the corporate income tax rates by 1.25-1.5 percentage points to 28.75-28.5 percent in the Budget for 2017, but will likely remove a plethora of exemptions that allow companies to cut down on their effective tax payouts.

The move, which finance minister Arun Jaitley had first announced in 2015, will signal the beginning of reforms of one of India’s complex tax systems that had become mired in layers of exemption and sops over the years, making it difficult to administer.

Currently, there are 32 incentives applicable on corporate profits before calculating tax. While the statutory tax rate of 33.99 percent, including cesses and surcharges, companies are paying an effective tax rate of 24.67 pe ...

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Railways

The government has approved plans to merge the railway budget from 2017. By making the railway budget a part India’s main budget, the government has signalled its intent to walk the talk on freeing the state-owned behemoth from having to deal with stressed finances and political populism.

The proximate reason for the abandoning the 92-year-old practice of a separate railway budget from 2017-18 may have been hastened by the state-transportation giant’s delicate balance sheet.

A combined budget could imply that the Indian Railways can avoid setting aside funds for dividends of about Rs 10,000 crore to the government every year.

Once the budgets are merged, the financial stress can be moved to the Centr ...

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Agriculture

There is heightened expectation that finance minister Arun Jaitley will announce a string of steps in Budget 2017 to minimise the demonetisation pain for farmers.

The economy-wide drain out of the old notes have left many farmers with no cash to buy seeds in the middle of the sowing season. Official data, however, suggests that sowing has been more in 2016 compared to the previous year.

Already, the government has also waived of interest for 60 days on existing farm loans for the latest kharfi and rabi crops. The waived amount will be directly transferred to the farmers’ bank accounts.

The government has also expanded Nabard’s lendable corpus pool by Rs 20,000 crore from the current Rs 21,000 crore ...

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Manufacturing

Finance minister Arun Jaitley may propose a package of tax incentives for the labour-intensive leather, gems and jewellery sectors as part of the government’s signature “Make in India” initiative to boost manufacturing, create jobs and revive exports.

Besides, India’s plans to create its own versions of China-style mega industrial cities peppered across the country equipped with production units, public utilities, residential areas, schools and hospitals will likely get a big fiscal push in Budget 2017-18.

There is expectation that outlay for industrial corridors will be substantially raised from Rs 1448 crore in 2016-17, signalling the government’s intent to use these mega enclaves as one of the major ve ...

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Foreign Inflows

In Budget 2017, finance minister Arun Jaitley may propose to create a favourable environment for foreign direct investors (FDI), venture capitalists (VCs), private equity (PE) firms and angel investors as part the broad strategy to ease fund flow to start-ups and small businesses.

Some of the proposals may draw upon the recommendations that a Securities and Exchange Board of India (Sebi) panel on Alternative Investment Funds(AIFs) headed by Infosys founder NR Narayana Murthy had made last year.

The committee had recommended several changes in taxation policy for AIFs including tweaking of safe harbour norms.

Venture capital and private equity funds pump in billions of dollars into India’s fledgling e-c ...

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Startups

Budget 2017 may contain some good news for start-ups. Finance minister Arun Jaitley may announce a string of initiatives to support the country’s start-ups, including widening of the tax-free regime to five years from three years and faster procedural clearances.

The move to extend the tax holiday from three years to five years, likely to be announced in Budget 2017-18, will come a year after Prime Minister Narendra Modi launched the “Start-Up India” programme in Delhi in January 2016.

The other measures expected include: easier exit norms for founders, simpler rules for government supplies; service tax exemption for start-ups; more funds for Atal Innovation Mission likely The measures, if announced, will act ...

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Experts Expectation from Budget

Sunil Singhania

CIO - Equity | Reliance Mutual Fund

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Jyotivardhan Jaipuria

Founder & MD | Veda Investment Managers

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Jyotivardhan Jaipuria

Founder & MD | Veda Investment Managers

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Gopal Mahadevan

CFO | Ashok Leyland

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Gopal Mahadevan

CFO | Ashok Leyland

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Aashish Somaiyaa

CEO | Motilal Oswal AMC

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Nilesh Shah

MD | Kotak Mahindra AMC

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Nilesh Shah

MD | Kotak Mahindra AMC

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Suresh Warior

Dir-Finance | Rashtriya Chemicals & Fertilisers

Industry Book Report FICCI
Brokers Report

K.R. Choksey

Aashish Somaiyaa

CEO | Motilal Oswal AMC

Industry Book Report FICCI
Brokers Report

K.R. Choksey

sectoral report

voices

Gopal Mahadevan

CFO
Ashok Leyland

Expects the government to focus on growing infrastructure and rationalisation of taxes in the upcoming Budget.

Nilesh Shah

MD
Kotak Mahindra A

Expect govt to cut taxes; wary of real estate sector

Suresh Warior

Dir-Finance
Rashtriya Chemic

Low gas prices will reduce subsidies. Expect faster flow of money from the government

S Naren

CIO- Equity
ICICI Prudential

Likes the telecom space due to the current valuations for long-term
Equity Current %Gain
Force Motors 4470.10 98.58
Dynamatic Tech 2950.00 91.99
Sona Koyo Stee 68.40 79.29
JK Tyre & Ind 132.55 78.16
SML Isuzu 1180.30 77.13
Maruti Suzuki 5666.50 74.75
Tata Motors 523.25 74.27
Hind Motors 8.56 69.50
India Nippon 599.65 67.55
Kesoram 142.20 67.20
Federal-Mogul 498.45 66.15
MRF 53587.30 65.24
Goodyear 734.05 64.70
TVS Srichakra 3264.35 64.46
Auto Corp Goa 674.25 64.45
FIEM Ind 1177.65 62.72
Scooters India 40.65 61.31
Lumax Auto Tech 455.50 61.07
Amara Raja Batt 906.45 6.36
Wheels 1224.30 58.23

budget and the market

market outlook

Presented by :

budget bets

company price

Coal India

Hold

307.00 0.00

Delta Corp

Hold

135.40 0.00

Havells India

Buy

373.45 0.00

Havells India

Buy

373.45 0.00

ONGC

Sell

194.90 0.00

United Spirits

Buy

2079.80 0.00

Granules India

Buy

111.60 0.00

Muthoot Finance

Buy

309.50 0.00

Rel Capital

Buy

462.75 0.00

Power Finance

Buy

136.95 0.00

MRF

Buy

53587.30 0.00

Ceat

Buy

1197.00 0.00

SRF

Buy

1650.45 0.00

Tata Chemicals

Buy

520.90 0.00

Reliance

Hold

1041.30 0.00

SME Corner

Presented by :

Jappreet Sethi

Co-Founder | YoStartups.com

Harsimran Julka

Editor, Startups | Moneycontrol.com

Harsimran Julka

Editor, Startups | Moneycontrol.com

insurance corner

Harjot Singh Narula

Founder & CEO | Comparepolicy.com

Adhil Shetty

CEO | BankBazaar.com

Harjot Singh Narula

Founder & CEO | Comparepolicy.com

MF corner

Presented by :

Himadri Buch

Assistant Editor | Moneycontrol.com

Rohit Shah

Founder & CEO | www.gettingyourich.com

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Tax Corner & Tax Calculator

Naveen Aggarwal

Partner and COO – Tax | KPMG India

Parizad Sirwalla

Partner and Head of Global Mobility Services – Tax | KPMG

Calculate Your Taxes

Market watch

SENSEX
27261.76 26.10 (0.10%)

NIFTY
8403.85 5.85 (0.07%)

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Poll

Presented by :
Do you see a big Pre-budget rally?
  • Yes
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Submit

Yes
65.26%
No
34.74%

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