Rana Kapoor, Founder & CEO, Yes Bank shares his view on the Union Budget 2013.
Vibhav Kapoor, Director, IL&FS stands in full support to the Union Budget 2013-14 presented by Union Finance Minister P Chidambaram in the Lok Sabha today. He told CNBC-TV18 that the finance minister had a very difficult job to do because there was no money available. With the limited options he has done a decent job.
Reacting on the Budget, Rajiv Memani, CEO and country managing partner of Ernst & Young said the surcharge of 10 percent imposed on super rich was more than what was anticipated.
Budget 2013-14 has turned out to be a mixed bag for the automobile industry, according to RS Sandilya, President Society of Indian Automobile Manufacturers.
Akash Prakash, fund manager and chief executive office, Amansa Capital, speaking to CNBC, says he is disappointed that this is a budget which has nothing dramatically new, no big bang reforms.
UR Bhat, MD, Dalton Capital Advisors, shared his view on the Budget.
The Union finance minister today presented the Budget for the year 2013-14. HP Ranina, Corporate Tax Lawyer gave his reaction on the same. He wasn‘t very happy with the Budget. He believes that the FM has done nothing to override what was done in Finance Act 2012.
According to Ashok Wadhwa, group CEO of Ambit Holdings, poor economic growth might discourage foreign investors from putting money into Indian stocks.
Sunil Munjal, MD, Hero expects the GST to get approved before the end of the next fiscal. Reacting to Union Budget 2013, Munjal told CNBC-TV18 that after slew of meetings between the finance ministry and various other ministries the mood is upbeat.
Indicating worsening public finances, the government today pegged its net borrowing for 2013-14 at Rs 4.84 lakh crore, about Rs 17,000 crore higher than the revised estimates of the current fiscal.
The government today raised the Plan expenditure for 2013-14 by 6.58 per cent to Rs 5,55,322 crore from the Budget estimates of Rs 5,21,025 crore for the current fiscal.
Koushik Chatterjee, Group CFO, Tata Steel told CNBC-TV18 that the focus will be on how effectively coal will me mined with Coal India‘s reserves.
Deepak Parekh, chairman, HDFC, shared his view on the Budget.
The government today said it will release Rs 9,000 crore as the first instalment of compensation for losses incurred by states due to reduction in the Central Sales Tax rate, a precondition for the rollout of GST - the indirect taxes regime.
Today at the Budget session, Chidambaram did put out a 4.8 percent fiscal deficit target for 2014, with a 30 percent jump in plan expenditure. This is making the math look difficult. In an interview to CNBC-TV18 C Rangarajan, Chairman, Economic Advisory Council to the Prime Minister said that this is a jump over the revised estimates.
Budget not bad considering FM‘s constraints: Kela
Expectations were high from Budget 2013, but unluckily Finance Minister P Chidambaram failed to deliver.
Chanda Kochhar, MD & CEO, ICICI Bank says interest subvention has been extended to private sector banks is a good news.
Uday Kotak, executive VC & MD, Kotak Mahindra Bank, talking to CNBC TV18, feels the FM has rolled out a very responsible Budget, with the intention of controlling fiscal deficit, combined with a great focus on the financial markets.
Vallabh Bhanshali, Chairman, Enam Securities Pvt Ltd says the FM has done more good than bad. One is boost to investment climate and two, initiatives like the two new corridors.
Adi Godrej, chairman, Godrej Group, shared his view about the Budget.
Budget 2013 Analysis: Private companies in liquidation as directors liability increased.
In the midst of a major modernisation drive, Defence Ministry today got a 14 per cent hike in its budget as Finance Minister P Chidambaram gave it Rs 2,03,672 crore for 2013-14 with a promise to provide any additional fund required for national security.
P Chidambaram came out with slew of measures to boost economy in hits Union Budget Speech for 2013-14.
Union Budget is a non-event for the market and not worthy of the expectations that P Chidambaram might have stoked in his commentary in the past.
The Union finance minister today presented the Budget for the year 2013-14. Some of the key points that were highlighted by Chidambaram in the Budget are:
The Budget announced no change in the standard rate of excise duty and service tax, include two services in the negative service-tax list and exempt vocational courses and testing services from service tax.
The finance minister raised the DDT surcharge to 10 percent from 5 percent and a 10-percent surcharge on companies with income over Rs 10 crore. The Budget has extended 80IA by a year and has levied a TDS at 1 percent on land deals over Rs 50 lakh and the 15-percent tax on dividend from overseas arms will continue.
The Budget has announced that a surcharge of 10 percent on individuals with income above Rs 1 crore for only one year.
The finance minister has announced the generation-based incentives for wind-energy projects. The Budget has provided low cost finance for viable renewable energy projects and has anounced a policy on shale gas-based revenue-sharing.
The Finance Minister - P Chidambaram proposed to set up a state-owned bank exclusively for women. The proposed bank will mostly do business with women and also, it will be run by women. By October, 2013; the licence would be issued by October, 2013.
In a surprising move, Finance Minister P Chidambaram proposed to set up an all women‘s bank via the public sector by October.
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The Budget has allocated Rs 500 crore to SIDBI to act guarantee to factoring funds. The finance minister will increase refinancing of SIDBI to help MSMEs and will allot Rs 2,400 crore for textile technology upgradation.
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 finance minister has announced that infrastructure debt funds (IDFs) are encouraged to promote investment in infrastructure. An amount of Rs 55 lakh crore has been earmarked for infrastrucutre in the 12th Plan.
The finance minister will approve R 50,000 crore tax-free bonds in FY14. The government expects to raise Rs 25,000 crore via tax-free bonds in FY13.
Budget 2013 is an acid test for Finance Minister P Chidambaram as he tries to revive the economy while keeping all stakeholders in good humour. Has he been equal to the task? Find out
Agri allocation up 22% at Rs 27,049 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.
The Budget has allocated a 17 percent hike in allocation to education over FY13.
The finance minister has allocated Rs 41,561crore for scheduled castes sub-plan and to allot Rs 24, 598 crore to the tribal sub-plan.This is against an allocation in 2012-13, of Rs 37,113 crore and Rs 21,710 crore for the scheduled castes and tribes respectively.
In an interview to CNBC-TV18, RS Sandilya President, SIAM , spoke about his reading of the market and Union Budget 2013-14
Speaking to CNBC-TV18, Kotak said, "Hiking tax rates will hurt risk-taking, enterprise. The government need a stable tax regime for higher investments. Aggressive fisc consolidation needs monetary policy support."
we are not expecting much of a surprise there, though I would say that for March 2013, there will probably be some deferment of oil subsidy. So, that is the most important number I will be watching on the fiscal deficit math.
In an interview to CNBC-TV18, Raamdeo Agrawal, Joint MD of Motilal Oswal Financial Services, spoke about his reading of the market and Union Budget 2013-14.
In an interview to CNBC-TV18, Sandeep Bhatia of Kotak Institutional Equities spoke about his outlook for the market ahead of Budget 2013-2014.
In an interview to CNBC-TV18, Pankaj Vaish, MD & Head of Markets-South Asia, Citigroup shared his reading and outlook on market and Union Budget 2013.
In an interview to CNBC-TV18, Prashant Jain, ED & CIO of HDFC AMC shared his reading and outlook on market and Union Budget 2013.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com spoke about his outlook for the market ahead of Budget 2013-2014.