Budget Reactions: CAD focus, agri-growth target postive: Maximus Securities

Maximus Securities has come out with its report on Union Budget 2013-14.

• GDP growth target at 5.5 percent in FY13-14
• Fiscal deficit projected at 4.8 percent of FY13-14 GDP
• Revenue Deficit projected at 3.3 percent of GDP in FY13-14
• Net market borrowing seen at Rs 4.48 lakh crs in FY13-14
• Agriculture growth target at 3.6 percent in FY13-14
• Plan expenditure pegged at Rs 5,55,322 crs and non-Plan at Rs 11,09,975 crs

• Expect Rs 13,300 crs through direct tax proposals in 2013-14
• Expect Rs 4,700 crs through indirect tax proposals in 2013-14
• Target Rs 55,814 crs from stake sale in state run firms in 2013-14
• Expect Revenues of Rs 40,850 crs from airwave surcharges, auction of telecom spectrum, licence fees in 2013/14
• Govt committed to food security bill. Rs 10,000 crs set apart for expenditure likely under the act.
• Government will need more than $ 75 bn this year and next year to fund Current Account Deficit (CAD)

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