Fairwealth Securities has come out with a report on Union Budget Preview 2011-12.
Union Budget Preview 2011-12: Actions taken in FY11:- Disinvestments worth ~ Rs 227 billion
- Allocation of 3G spectrum and Broadband Wireless Access that fetched over Rs 1000 billion
- Increased Spending on Infrastructure and Social sector
- High WPI Inflation, especially food inflation
- Current Account Deficit at elevated levels
- Fiscal Deficit that may further widen in FY12 in the absence of appropriate measures
- Rising prices of Crude oil that may stoke fuel inflation further and fiscal deficit in case crude oil prices go beyond USD 100 per barrel and Government continues to bear the fuel subsidy
- Tax reforms such as implementation of GST and DTC
- De regulation of Diesel Prices to contain under recoveries
- Subsidies to Oil and Gas, Fertilizer, Food etc
- Relaxation of FDI norms in sectors like BFSI, Media, Retail etc
- Restoration of Service tax to 12%
- Introduction of Infrastructure fund
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