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A well balancing act by the finance minister & playing it safe. The Budget lacks the roadmap of controlling fiscal consolidation & big bang reforms. Fuel, food & fertilizer subsidies have not been cut nor there is a roadmap on the same to bring it down in the future.
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Finance Minister in his Budget speech stated that FRBM implementation is back on track and there will be some amendments to FRBM act.
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Here is a comprehensive list of demands from the world's fastest growing market- India Telecom. Will Budget 2012 connect with their wants?
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SEZ developers fired their first salvo against the government on levy of 18.5% MAT (minimum alternate tax) on SEZs in this year's budget. SEZ developers of Tamil Nadu and Andhra Pradesh have moved to Madras and Andhra Pradesh High Courts, respectively against the levy, reports CNBC-TV18.
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Car makers have expressed surprise and concern over the newly changed definition of completely knocked down (CKD) units that were introduced in the budget.
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No increase in excise duty in budget 2011 by the finance minister has Maruti's chairman RC Bhargava, bullish on the entire automotive industry and his company, in particular. He tells CNBC-TV18 that the budget has been received well in his sector, with no negative markings visible.
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Policymakers in the power sector are not tetchy about budget 2011. However, power companies are complaining loud and clear. They say a lot more has to be done to re-energise the sector. CNBC-TV18’s Anchal Gupta and Vidhi Godiawala share the details of the complaints from budget 2011.
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According to CNBC-TV18 poll, 90% of the economists feel the deficit will be above 5% and only 10% share the government's confidence of 4.6%.
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Comments on Budget 2011-12 for Visual effects and 3D industry by Nishant Fadia, CFO, Prime Focus ltd
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A Vellayan, chairman of Coromandel International, in an exclusive interview with Reema Tendulkar and Gautam Broker, shares his views on the budget 2011 and its impact on the fertilizer space. He believes the government underplays the initial allocation to the fertilizer sector in order to show lower fiscal deficit, every year.
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The budget this year has focused on affordable housing sector. Pujit Aggarwal, managing director of Orbit Corporation shares his views on the budget, in an exclusive interview with CNBC-TV18’s Latha Venkatesh and Soniya Shenoy.
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The budget for 2011/12, which was tabled in parliament on Monday, proposed to set up a Rs 10 crore equity fund for MFIs and sought to allocate Rs 500 crore to SIDBI to refinance commercial banks’ lending to MSMEs.
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Market Analyst, Sangeeta Purushottam is hopeful on the budget, saying that it represents ‘best-case scenario’.
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The IT industry has received a jolt. On the one hand, the much-asked-for extension of tax benefits for software and technology parks has been denied. On the other, special economic zones will now have to pay minimum alternate tax and at a higher rate of 18.5%. IT firms say this will hurt cash flow.
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One of the announcements of budget 2011 was increase in the limit up to which FIIs may invest in infrastructure bonds that have a residual maturity of over five years. Hemant Mishr of Standard Chartered Bank, in an exclusive interview talks about what raising of the limit really mean.
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Budget Reactions of Sushanto Roy, Executive Director & CEO, Sahara Prime City Limited on the Union Budget 2011
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Budget 2011 proposes relatively limited changes in the taxing framework for the Financial Services industry.
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Speaking to CNBC-TV18, MM Miyajiwala, Executive Vice President & CFO of Voltas said,”Overall, this move will improve the sentiment. It emphasizes that the government is focused on warehousing and infrastructural investment for foodgrains and agricultural produce. It is a move into right direction."
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The Finance Minister, in his budget speech on Monday set the divestment target for financial year 2012 at Rs 40,000 crore. This, divestment secretary Sumit Bose says is realistic. "The proceeds of two of the largest follow-on public offer—SAIL and ONGC—will be accounted for in the next fiscal," he said.
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Finance Minister did what “Best” he could have done, by presenting a reasonably good budget, considering global crisis. He managed to bring a relief to the economy as a whole.
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In an interview with CNBC-TV18, MS Unnikrishnan, managing director of Thermax said, the removal of excise duty is a positive move in the right direction. This move has brought in a level playing field for the domestic suppliers.
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Indian Budget is presented in a tone of 'All is well'. Let’s hope that this attitude is with a view to face the problems staring at us with a positive mind set rather than an Ostrich like behaviour of not recognising them.
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Union Budget quote by Jeya Kumar – Chief Executive Officer, Union Budget quote: Patni Computer Systems
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With Budget 2011-12 being announced, a number of impacts and implications are yet to be demystified. In CNBC-TV18’s special show Budget Tonight, Karan Thapar with Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia and Former Finance Minister, Yashwant Sinha analyse Pranab Mukherjee’s sixth budget presentation.
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Kaushik Basu, Chief Economic Advisor, PV Bhide, Former Revenue Secretary, Dhruv Sawhney, CMD, Triveni Engineering and TV Mohandas Pai, Head-Administration & HR, Infosys, in an exclusive interview with CNBC-TV18’s Shereen Bhan, gave their expert views on how they viewed the budget.
