Malvinder Mohan Singh, Chairman, Fortis Healthcare, spoke about his sectors' expectations.
The budget, with the limited availability of fiscal space, attempted to bring fiscal consolidation with lower fiscal deficit of 4.8% and simultaneously made higher allocations to various schemes to spur investments.
The budget has a high focus on social sector, while nothing new has been done specifically to spur infrastructure spending
If Palaniappan Chidambaram‘s eighth budgethas not set the markets on fire, it can be easily explained: his first goal was to avoid doing damage to investor confidence, which is what his predecessor managed to do. And unlike his own 2008 budget, which set the stage for the economy‘s long-term slide
The RBI will be able to manage the government's borrowing programme for the next fiscal year, Urjit Patel, a deputy governor at the Reserve Bank of India, said on Thursday, after the government unveiled a higher-than-expected gross borrowing number.
Investors will witness some incremental changes as far as their investment plans are concerned in the coming financial year following the announcement of the Union Budget 2013-14.
Infrastructure companies reeling under huge debts have a reason to cheer after the Finance Minister assured them availability of low cost funds in the Union Budget 2013-14.
Budget 2013 Analysis: Private companies in liquidation as directors liability increased.
Union Budget is a non-event for the market and not worthy of the expectations that P Chidambaram might have stroked in his commentary in the past. There are some irritants for the market.
The market is still struggling to gain investors‘ confidence as the Finance Minister P Chidambaram announced some important duty hikes. The Sensex was down 69.63 points or 0.36% at 19082.78, and the Nifty fell 20.95 points or 0.36% at 5775.95.
Investors have not liked the FM‘s way of dealing with taxation this time. Both the BSE Sensex and Nifty have lost majorly now. The Sensex was down 83.21 points or 0.43% at 19069.20, while the Nifty lost 26.25 points or 0.45% at 5770.65.
Finance Minister P Chidambaram announced that the Ministry of Rural Development will be given Rs 80,194 crore in 2013-14 while about Rs 33,000 crore has been allotted for MGNREGA even as he cautioned that Indian economy was not out of the woods.
Holding it firm for sometime, the market seemed to be giving up all its gains. The FM has not allocated any major boosters so far. The Sensex was down 5.80 points or 0.03% at 19146.61, while the Nifty slipped below 5800 at 5792.90 down 4.00 points or 0.07%.
The finance minister has announced 3000 kms of new road projects in Gujarat, Madhya Pradesh, Uttar Pradesh and Maharashtra. This will boost cement sector in 2013-14. The sector has been grappling with sluggish demand and overcapacity for the past six months.
The market is not showing much movement as the Finance Minister P Chidambaram reads out his Budget allocation for various sectors. The Sensex was up 67.10 points or 0.35% at 19219.51, and the Nifty gained 15.15 points or 0.26% at 5812.05.
Finance Minister P Chidambaram said the natural gas pricing policy will be reviewed. He also said that five LNG terminals in Dabhol will be operational in 2013-14.
The market was holding gains as infra stocks boosted the indices. In his Budget speech, Finance Minsiter P Chidambaram spoke of approving Rs 50,000 crore tax-free bonds in FY14. The government expects to raise Rs 25,000 crore via tax-free bonds in FY13.
The Finance Minister P Chidambaram has announced 3000 kms of road projects in 2013-14 in various states in Gujarat, Maharashtra, Rajasthan and Andhra Pradesh. He also said committees will be set up to fast- track stalled and even new projects.
The market seemed to go mute as the FM divulged details about the expenditure and current account deficit. Finance Minister says FY14 plan expenditure to be 30% more than FY13 revised estimates. FM says FY13 plan expenditure cut to Rs 3.9 lakh crore versus before estimates of Rs 5.9 lakh crore.
Finance Minister P Chidambaram while presenting Union Budget 2013-14 in Parliament on Thursday admitted that the slow growth rate of Indian economy remains a challenge but added that he was confident that the country could bounce back.
Both the Sensex and Nifty have pared some gains as the Finance Minister P Chidambaram opened his Budget speech. He stressed that greater worry of the country is the current account deficit due to excessive dependence on oil, coal and gold. Chidambaram informed that the ministry will require USD 75 million to finance the CAD in FY14.
Finance Minister says the final GDP growth rate would be lower than CSO, RBI estimates. RBI estimated GDP growth of 5.5 percent in FY13.
Looking for positive reforms in the Union Budget, the market is holding up gains strongly. As the Finance Minister P Chidambaram opened his Budget speech, the Sensex was up 140.59 points or 0.73% at 19293.00 while the Nifty added 41.55 points or 0.72% at 5838.45.
In an interview to CNBC-TV18, RS Sandilya President, SIAM , spoke about his reading of the market and Union Budget 2013-14
The market is gearing up for the Union Budget 2013. The Sensex was up 108.24 points or 0.57% at 19260.65 whilethe Nifty gaines 31.45 points or 0.54% at 5828.35.