Published on Sat, Feb 27, 2010 at 13:04 | Source : Moneycontrol.com
Updated at Sat, Feb 27, 2010 at 13:20
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Budget 2010 positive for economy, market: Emkay
Emkay Global Financial Services has come out with a review report on Union Budget 2010-11. The research firm says, overall the budget was positive for the economy/market and there was no major negative surprise.
Emkay Global Financial Services has come out with a review report on Union Budget 2010-11. The research firm says, overall the budget was positive for the economy/market and there was no major negative surprise.
According to Emkay Global report -
- The fiscal deficit of 5.5% for FY11 is better than our expectation of 5.7%. The roadmap to reduce it further to 4.8% and 4.1% in FY12 and FY13 is welcome
- Govt borrowings capped at Rs 3.5 trillion; positive
- Indirect tax: Rollback of 2% is as per market expectation
- No change in service tax is a positive surprise
- Reduction in surcharge from 10% to 7.5% positive, but MAT increase from 15% to 18% marginally negative
- Overall, we believe that the budget was positive for the economy/market and there was no major negative surprise
- However, after the initial euphoria, market will start following the fundamentals of the economy, corporate earnings and the global events
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
