Budget 2011 proposes relatively limited changes in the taxing framework for the Financial Services industry. Though, on the face of it, it may appear that the Budget could have done more for the Financial Services industry, on balance, it seems to be a fairly good budget as it has targeted an annual growth rate of approximately 8.6%, and has put much more emphasis on the infrastructure sector, which is closely inter-twined with the Financial Services industry. This would help the Financial Services industry leverage off the various initiatives taken by the Government for benefitting the infrastructure sector.
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