Monday, November 09, 10:16 pm IST
| Feedback
In Markets
A look at which companies made their way in, and which got booted out from the BSE Index. read more
In World News
US government-to-government arms sales rose 4.7% to a record USD 38.1 billion last year. read more
In Lifestyle
Read "How to Relax Without Getting the Axe" for a tongue-in-cheek look at the workplace, read more
Remove FBT; moderate STT: Chola MF
Published on Mon, Jun 29, 2009 at 14:46  |  Updated at Mon, Jun 29, 2009 at 15:19  |  Source : Moneycontrol.com

With the Budget 2009 fast approaching, it is the season for wish lists. Sanjay Sinha, CEO, DBS Cholamandalam Asset Management Ltd pens down his wishes:

Important Expectations:


RSS feed for news   Click here

  1. Finance Minister to target a fiscal deficit of 6.2-6.5% for FY10 with $8bn receipts from PSU sale/3G auction.
  2. Reduce excise duty on Commercial Vehicles (CVs) by 400 bps
  3. Rural development through the Bharat Nirmaan scheme in rural housing, irrigation etc.
  4. Remove Fringe Benefit Tax, introduce investment allowance, bring more services in the tax net while raising corporate tax rate to 35% to make these incentives revenue neutral. Investment allowance for expenditure incurred by industry on plant and machinery which was withdrawn in 1990 may be brought back. This can enable Indian companies to claim a deduction of an amount equal to 25% of the cost of plant and machinery installed or put to use while computing their profits from business. Companies with high capex and low profits would be most sensitive to this change.
  5. Hike in minimum exemption limit for taxable income by Rs 50,000 to Rs 200,000 a year to stimulate demand by Rs 150 billion.
  6. Sec 80 C limit should be enhanced from Rs 0ne lakh at present.
  7. Securities Transaction Tax (STT) may be moderated.
  8. Dedicated Infrastructure Funds (DIF) to be launched by MFs to be approved.
  9. IT exemption on interest paid on housing loans may be enhanced.
  10. FDI limit on some sectors such as insurance, media etc should be enhanced.

Apprehensions:

  1. Allocation to social sector especially National Rural Employment Guarantee Scheme (NREGS) may be hiked significantly.
  2. Increase in subvention of agriculture loans . While some reduction in crop loans (with subvention) to support rural demand, especially given the delay in the monsoons is required, profligacy should be avoided.
  3. Increase in excise duty on cement and steel.

- Sanjay Sinha, CEO, DBS Cholamandalam Asset Management Ltd.

For more Views from Experts click here 

Important Links Today:  Leadership Wall    Chat Calendar    The 10 List   
WHAT OTHERS LIKE
  • Most Read
  • Most Viewed
©Network 18, 2009. All Rights Reserved