Budget 2016 allocates a comprehensive gigantic outlay of Rs 2,21,246 crores for the infrastructure sector, including railways.
A panel of political experts share their view on Union Budget 2016 presented by Arun Jaitley.
Shares of Titan Company declined 4.3 percent to close at Rs 316.35 on the BSE. Among others, Gitanjali Gems, Goenka Diamond, PC Jeweller, Renaissance Jewellery, Tara Jewels and Tribhovandas Bhimji Zaveri were down 1-3.6 percent at close.
Here are five provisions from Union Budget 2016 that you cannot forget.
Oil marketing companies gained due to non-imposition of custom duty on crude oil imports. HPCL rallied over 4 percent followed by BPCL and IOC with marginal gains.
Shivendra Bajaj, Executive Director, Association of Biotechnology Led Enterprises, Agriculture Group is of the view that Finance Minister‘s focus on agriculture in the Budget 2016-17 was keenly awaited and will enhance expenditure on the rural and agriculture sectors.
Though there is no increase in income tax deduction for the insurance premium payment, finance minister offers the insurance buyer cheaper insurance policies.
Minister of state for finance, Jayant Sinha in an interview to CNBC-TV18, said the government has not only adhered to the fiscal deficit target, it has also increased public investment in a significant manner
Section 87A benefit is hiked to Rs 5000 and a home loan interest benefit stand increased along with HRA limit.
The Union Budget 2016 offers an additional tax benefit of Rs 50000 for first time home buyers.
Sticking to fiscal prudence was the most important thing, which gives room for RBI to cut rates and would be disappointed if he did not see that come from RBI as early as today, says Vallabh Bhanshali, Chairman, Enam Securities.
Looking at the rising cases of renal disease and lack of affordable dialysis centre, Jaitley said the government will start a dialysis programme, for which the funds will be brought through public private partnership.
ICICIDirect says it expects the government to announce additional capital infusion (compared to previously allocated Rs 70,000 crore for FY16-19 under Indradhanush plan), hike in FDI cap in public sector banks to 49 percent from 20 percent and formation of bad bank & capitalisation of the same.
Ashwani Gujral - Fund manager at ashwanigujral.com recommends buying State Bank of India, Hindustan Unilever, SKS Microfinance and LIC Housing Finance.
Among other expectations, finance minister may choose to increase the income tax exemption limit by Rs 50000.
BMR Advisors define the expectations from the energy sector from Union Budget 2016
Banking sector has made huge positive technological and digital advancements over the past few years. New technology and favourable regulation are driving the creation of new banking entities to drive financial inclusion, says Murad Nathani, the Co-Founder and CEO of Slonkit
Finance minister shall be walking a tight rope to manage the fiscal austerity path. Though the chances of a slippage from the FRBM path are high, owing to 7th pay commission payouts, but these would to a certain extent get offset by higher revenues.
Last year's budget gave an additional tax benefit on investments of up to Rs 50,000 a year under the National Pension Scheme only. This needs a wider coverage.
Bank Nifty gained more than 1 percent after the government, in its Economic Survey 2016-17 says it has given power to banks to recover money from debt ridden promoters.
Bharat Iyer of JPMorgan believes the market could have an appetite for fiscal slippage provided the end use of funds is very clearly mandated and adhered to for important issues like PSU banks recapitalisation.
The government plans to hike the recapitalizing funds for the public sector banks. Hike in loan rebate, 100 percent FDI for asset reconstruction companies (ARCs) via the automatic route and sticking to fiscal deficit target of 3.5 percent are also on the cards, say sources.
Home insurance premium should get some tax exemption. Extant tax benefit on health insurance must be hiked.
Since the previous budget disappointed the salaried class with no change in the tax slabs, it is likely that this could see a change in this budget.
Mr. Mutual Fund writes to the finance minister with his wish list for Union Budget 2016.