Indian Budget is presented in a tone of 'All is well'. Let’s hope that this attitude is with a view to face the problems staring at us with a positive mind set rather than an Ostrich like behaviour of not recognising them.
With Budget 2011-12 being announced, a number of impacts and implications are yet to be demystified. In CNBC-TV18’s special show Budget Tonight, Karan Thapar with Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia and Former Finance Minister, Yashwant Sinha analyse Pranab Mukherjee’s sixth budget presentation.
In an interview with CNBC-TV18's Menaka Doshi, an illustrious panel of business leaders including Chanda Kochhar, MD and CEO, ICICI Bank, Harsh Mariwala, CMD, Marico, Baba Kalyani, CMD, Bharat Forge, GV Prasad, Dr Reddy's and YM Deosthalee, Whole-Time Director and CFO, L&T, assess the math of the budget.
Commending Finance Minister Pranab Mukherjee on putting out a balanced budget, Planning Commission's deputy chairman Montek Singh Ahluwalia said FM has been able to meet our hopes for key ministries. "Individual ministries need to implement and spend money well," he said.
Suresh Swamy, Executive Director and Hemen Asher Senior Manager, PwC India said that the budget has certain proposals that affect the private equity world.
Goa's mining industry is upset over the union budget hiking export duty on iron ore by 5% when the industry had pleaded to scale it down. Similarly, the state tourism industry is in a rude shock after service tax was made applicable to hotel accommodation above Rs 1,000 per day and AC restaurants serving liquor.
Welcoming the Union Budget 2011-12 today presented by Finance Minister Pranab Mukherjee, the Bombay Chambers said it is very positive with a emphasise on inclusive growth
Expressing serious concern over the generation and circulation of black money, Finance Minister Pranab Mukherjee today said the government has adopted a five-fold strategy to deal with the menace.
The existing limit of USD 5 billion for investment by Foreign Institutional investors (FIIs) in corporate bonds issued by companies in the infrastructure sector with a residual maturity of over five years, are proposed to be enhanced by an additional limit of USD 20 billion.
We welcome the raising of housing loan limit for priority sector lending to Rs 25 lakh and the move to further liberalise FDI policy.
Anand Sharma, Commerce Minister, in an exclusive interview with CNBC-TV18’s Shereen Bhan says that his ministry has had consultation talks with the prime minister and the finance minister on the manufacturing policy. “As soon as there is consensus will move cabinet with manufacturing policy,” he says.
Sunil Gidwani Executive Director at PwC India said, "Though in terms of fiscal measures, there is no significant proposal in the Finance Bill that could impact the tax regime for the banking industry."
Hari Bhartia, President, CII says, the budget is very growth oriented.
Sunil Munjal, Chairman, Hero Corporate Services says, it is a reformer’s budget.
Nilesh Shah, market participant, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Rohan Shah, Managing Partner, Economic Laws Practice, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
While the overall Budget seems to be pragmatic and well balanced but, it seems to be a mixed bag for the IT Industry. Increased focus on e-governance and consequent opportunities will be welcomed by the Indian IT/ ITES industry.
The Government of India introduced service tax in the year 1994 and presently it constitutes a major source of revenue for the Government. Budget 2011 estimated collection of services tax was at Rs. 68,000 Crores in 2010-11 as compared to Rs. 2072 Crores in 1999-00.
The government's proposal to bring hospitals under service tax ambit will increase cost burden of patients and will be negative for the sector, said India's healthcare operators.
India plans to raise its expenditure in the education sector by about a quarter to Rs 520.6 billion (USD 11.50 billion) in the next financial year, Finance Minister Pranab Mukherjee said on Monday in his budget speech, reinforcing the country's push to create a skilled workforce to keep up with fast-paced growth.
Indian equity benchmarks marked gains on the back of the better-than-expected details revealed by the finance minister in the big bang event - Union Budget 2011. However, the indices could not retain the initial euphoria set by the budget as concerns over rising crude oil prices erased most gains towards the end.
Ratnesh Kumar, Managing Director and CEO, Standard Chartered Capital Markets, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Amidst hopes of fixings the 3 'D's (fiscal deficit, current account deficit and government deficit), Finance Minister Pranab Mukherjee announced the Union Budget 2011-12 on Monday.
Dharmesh Mehta, Enam says, divestment targets are looking realistic. “I am very confident that it will be achieved,” he adds.
The steel industry cheered the 20% export duty hike on iron ore in the FY12 federal budget that will help contain escalating raw material costs and gave a thumbs-up to higher infrastructure spends, which will boost steel demand in the country.