All major sectors will keenly eye clarity on Goods and Services Tax in the upcoming budget
India Ratings says that the advance estimates of national income, 2012-13 (FY13) points out towards further decline in savings rate in FY13. Advance estimates pegs GDP growth in FY13 at 5.0% lower than the consensus and India Ratings expectations (5.5%).
"With costs expected to continue to rise, cement prices are likely to increase in tandem and remain on the higher side. We believe prices are expected to rise by 5.9% during FY13," Centre for Monitoring Indian Economy (CMIE) said in its monthly review here.
Angel Broking has come out with its report on auto sector. Automobile sales surged at a brisk pace in March 2012 with passenger vehicles (PV) reporting healthy growth aided by pre-budget buying in anticipation of excise duty hike in Union Budget 2012-13.
Continuing high crude oil prices, fiscal deficit leading to higher inflation and Rupee depreciation, shall support investment demand. On back of these factors, sharp downside in gold prices will be cushioned.
In the past, budgets used to be a kind of state-of-the-union message, a strong indication of vision, direction and drive. Not any more.
Swastika Investmart has come out with its report on Union Budget 2012-13. As per the research firm India’s GDP growth in 2012-13 expected to be 7.60%.
SPA Research has come out with its report on Union Budget 2012- 13.
Aditya Birla Money has come out with its report on Union Budget 2012- 13.
CNBC-TV18 catches up with an elite panel of CII members for their first reaction on Budget 2012-13.
By Indresh Batra, Managing Director, Jindal SAW
The FM Pranab Mukherjee on Friday proposed to provide a sum of Rs 15,880 crore capital support to all public sector banks in the Union Budget 2012-13 . This will help maintain their minimum tier – I capital. In turn, lenders can expand their asset base maintaining the growth momentum. However, the proposed amount, many believe, is not adequate.
The BSE Sensex dropped as much as 444 points from day's high of 17,871.00 amid huge volume on Friday, especially after end of speech by the Finance Minister on Union Budget 2012-13 as it was completely non event for the market.
The optics from the Union budget 2012-13 are positive for markets with higher growth, lower inflation and lower fiscal and current account deficits. GDP growth is estimated at 7.6 percent for 2012-13 against 6.9 percent for 2011-12.
The BSE Sensex fell more than 300 points from day's high while the bond 8.79% 2012 yield moved up by 0.93% to 8.44. The fall was majorly led by oil & gas, power, capital goods, metals and banks; respective indices were down 1.5-3%.
The BSE Sensex shed nearly 200 points, after huge volatility during the Union Budget speech by the Finance Minister Pranab Mukherjee. It seemed to have priced in the event completely.
The BSE Sensex rose about half a percent amid extreme volatility while the NSE Nifty was trying hard to hold the 5400 level. Majority of market experts feel Union Budget 2012-13 announced by Finance Minister Pranab Mukherjee is a non event for the market.
The BSE Sensex got back into consolidation phase as the Finance Minister Pranab Mukherjee ended his speech on Union Budget 2012-13. The market saw extreme volatility during the speech. Experts were mixed in their opinions over this Budget; some feel it was non-event for the market while some say, it is a realistic Budget.
The BSE Sensex remained extremely choppy in trade as the Finance Minister was moving towards the end of his Union Budget Speech further. He has raised excise duty on cigarettes by 10% and advaloram duty on some cigarettes.
The BSE Sensex shaved off all its gains after Finance Minister Pranab Mukherjee hiked standard excise duty rate from 10% to 12%. Even he raised duty on large cars from 22% to 24%.
The Finance Minister in the Union Budget 2012-13 reduced the Securities Transaction Tax (STT) by 20% on delivery transactions from 0.125% to 0.10%. This means, traders have to now pay Rs 10,000 both on sale and buy sides for every Rs 1 crore of share transaction in the delivery segment.
The BSE Sensex was extremely volatile during speech by Finance Minister Pranab Mukherjee. He said the government has reduced Securities Transaction Tax (STT) by 20% on delivery transactions to 0.1%.
The BSE Sensex was trying to stay in a positive terrain amid choppy trade, though it saw major profit booking due to fall in Reliance Industries, L&T, ONGC and Infosys. However, banks & financials and select metals stocks were on buyers' radar.
The BSE Sensex retained its early gains during Union Budget Speech, though it saw somewhat profit booking. It gained 84 points at 17,760.11 and the NSE Nifty rose 33 points to 5,413.85.
The BSE Sensex erased some gains as the Finance Minister Pranab Mukherjee proceeds further with his Union Budget 2012-13 speech. He says FDI in aviation is under consideration, which is positive for Kingfisher Airlines.