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MLR Securities came put with a report on India Budget Review 2011-12
Reaction on Budget 2011-12 by Tarun Bhatia, Director – Capital Markets, CRISIL Research.
Budget 2011-12 has given a marginal benefit on the tax slab for individuals. However the benefits for very senior citizens are higher. However the expectations that there will be changes in the investment avenues and their slabs have not been met.
The government today said the total tax revenue in 2011-12 would be up 18.50% at Rs 9,32,439.88 crore, on the back of projected rise in revenue from taxes on income, services, customs and excise duties.
To reduce compliance burden of small taxpayers, Finance Minister Pranab Mukherjee today proposed to introduce a new simplified income tax return form 'Sugam'.
Battling high input costs, the country's oldest bicycle cluster in Ludhiana today received a jolt, with Union Budget proposing to bring the sector under central excise net.
Mortgage lender HDFC has decided to revise its retail prime lending rate (RPLR) by 25 basis points to 15.50% on home loans with effect from March 01, 2011.
Budget reaction on Aerospace & Defence sector from Nidhi Goyal - Director, Deloitte in India.
The government today proposed to increase the service tax on life insurance policies to 1.5% from 1%, a move that would increase the premium cost for policyholders.
Commending Finance Minister Pranab Mukherjee on putting out a balanced budget, Planning Commission's deputy chairman Montek Singh Ahluwalia said FM has been able to meet our hopes for key ministries. "Individual ministries need to implement and spend money well," he said.
Suresh Swamy, Executive Director and Hemen Asher Senior Manager, PwC India said that the budget has certain proposals that affect the private equity world.
Mumbai, Feb 28 (PTI) Led by Bajaj Auto Chairman Rahul Bajaj, the automobile industry has praised Finance Minister Pranab Mukherjee's decision not to raise excise duty on vehicles in the Union Budget today.
Expressing serious concern over the generation and circulation of black money, Finance Minister Pranab Mukherjee today said the government has adopted a five-fold strategy to deal with the menace.
Welcoming the Union Budget 2011-12 today presented by Finance Minister Pranab Mukherjee, the Bombay Chambers said it is very positive with a emphasise on inclusive growth
Goa's mining industry is upset over the union budget hiking export duty on iron ore by 5% when the industry had pleaded to scale it down. Similarly, the state tourism industry is in a rude shock after service tax was made applicable to hotel accommodation above Rs 1,000 per day and AC restaurants serving liquor.
Leading NRI industrialist Lord Swraj Paul today hailed India's budget for the year 2011 as "growth-oriented" and said it would help raise the level of the "aam admi".
India's retail sector that has been anticipating some good news on allowing FDI in the multi -brand segment is left disappointed by Finance Minister Pranab Mukherjee, who made no mention of it in his Budget speech.
Post-budget outlook 2011-12- Well managed but no significant move towards economic reforms by Mehta Equities.
Quote on the budget from Sandesh Kirkire, CEO, Kotak AMC
Pranabda definitely deserves a pat on the back, for having presented the budget in a high tension / high pressure arena and emerging a winner. The budget was on a ‘Play-safe’ mode, with very few surprises –
Although on the budget day, most of gains were reversed, I still feel that budget will go a long way in turning the India sentiment positive, says Nirmal Jain, Chairman of IIFL.
Angel Broking is bearish on ABB and has recommended reduce rating on the stock with a target of Rs 595 in its February 25, 2011 research report.
Energy and transport will get a massive chunk of the central Plan's outlay in the next fiscal even as Finance Minister Pranab Mukherjee today announced several key initiatives for giving a boost to the infrastructure sector.
Reaction on Union Budget 2011 - 2012 by GRK Reddy, Chairman & Managing Director, MARG Group.
Prime Minister Manmohan Singh today said the Union Budget was aimed at fiscal consolidation and moderation of taxes to match the challenges the economy faces and signalled that his government was reform-oriented.
