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.
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.
In an interview with CNBC-TV18's Menaka Doshi, an illustrious panel of business leaders including Chanda Kochhar, MD and CEO, ICICI Bank, Harsh Mariwala, CMD, Marico, Baba Kalyani, CMD, Bharat Forge, GV Prasad, Dr Reddy's and YM Deosthalee, Whole-Time Director and CFO, L&T, assess the math of the budget.
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.
The 400-plus point jump in the Sensex immediately after the finance minister's speech ended, suggests that the Budget turned out to be much better than the most optimistic of market expectations.
We welcome the raising of housing loan limit for priority sector lending to Rs 25 lakh and the move to further liberalise FDI policy.
Anand Sharma, Commerce Minister, in an exclusive interview with CNBC-TV18’s Shereen Bhan says that his ministry has had consultation talks with the prime minister and the finance minister on the manufacturing policy. “As soon as there is consensus will move cabinet with manufacturing policy,” he says.
Sunil Gidwani Executive Director at PwC India said, "Though in terms of fiscal measures, there is no significant proposal in the Finance Bill that could impact the tax regime for the banking industry."
Hari Bhartia, President, CII says, the budget is very growth oriented.
Sunil Munjal, Chairman, Hero Corporate Services says, it is a reformer’s budget.
Nilesh Shah, market participant, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Rohan Shah, Managing Partner, Economic Laws Practice, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
The Government of India introduced service tax in the year 1994 and presently it constitutes a major source of revenue for the Government. Budget 2011 estimated collection of services tax was at Rs. 68,000 Crores in 2010-11 as compared to Rs. 2072 Crores in 1999-00.
Indian equity benchmarks marked gains on the back of the better-than-expected details revealed by the finance minister in the big bang event - Union Budget 2011. However, the indices could not retain the initial euphoria set by the budget as concerns over rising crude oil prices erased most gains towards the end.
Ratnesh Kumar, Managing Director and CEO, Standard Chartered Capital Markets, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Amidst hopes of fixings the 3 'D's (fiscal deficit, current account deficit and government deficit), Finance Minister Pranab Mukherjee announced the Union Budget 2011-12 on Monday.
Dharmesh Mehta, Enam says, divestment targets are looking realistic. “I am very confident that it will be achieved,” he adds.
The steel industry cheered the 20% export duty hike on iron ore in the FY12 federal budget that will help contain escalating raw material costs and gave a thumbs-up to higher infrastructure spends, which will boost steel demand in the country.
UR Bhat, MD of Dalton Capital Advisors, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
CNBC-TV18's Managing Editor Udayan Mukherjee says, “I don’t think it’s a bad budget, in that, it is not a negative. But I don’t think it is a spectacular reformist budget or anything like that.”
YM Deostahlee, CFO at L&T, in an interview with CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Anil Singhvi, VC of RNRL, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Ashvin Parekh, Partner & Global Leader, Financial Services, Ernst & Young, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Yashwant Sinha, Former Finance Minister says, the budget is silent on economic reforms.