Union Budget 2018

This week in MFs: FM proposed 10% dividend distribution tax in equity MF

This move may prompt mutual fund houses to promote growth option of equity mutual funds over dividend option offered by equity schemes.

Budget 2018: Here is how it affects the technology and e-commerce sector

The reduced corporate tax rate of 25% for companies has now been extended for turnover upto Rs. 250 crore.

Budget 2018: A short-term Top but a huge impetus for long term

For stock market followers, most people have focused on the impact of the re-introduction of long term capital gains (LTCG) tax.

Budget 2018: Cheers some, upsets some! NRI’s too have to shell out more tax

"Budget 2018 has widened the scope of the taxable presence of non-residents by moving from a ‘physical presence’ dominated nexus approach to a ‘significant economic presence’ nexus approach."

Budget 2018: D-Street gave a thumbs down to Budget 2018; retail investors to shell out more tax

"This was an election year and a populist Budget was definitely on the anvil, especially after the recent fiasco in the Gujarat elections. The markets seem to be artificially held up, for now, wait and watch might be the best approach to adopt at this juncture," says Nikhil Kamath, Co-founder and Head of Trading, Zerodha.

Life after Budget! Nifty could see up to 5% fall while Midcaps could correct by 10%: Atul Suri

India market could see a bit of correction in the short term but the market has been correcting in the last one month even though Nifty rose in the same period.

Budget 2018 builds on demonetisation and GST: Kapil Wadhawan, Wadhawan Global Capital chief

"The government's promise to bring it down to 3.3% next year is a very credible and realistic step."

What changed for the market post Budget 2018 while you were sleeping? 15 things you should know

A list of important headlines from across news agencies that could help in your trade today.

Fiscal deficit target of 3.3% announced in Budget 2018 looks shaky: Shailendra Kumar

"Directionally, this Budget will not have much impact on the equity market, it will move largely on relative valuation and earnings growth in FY19," says Shailendra Kumar, CIO at Narnolia Securities Limited.

Budget 2018 has put thrust on infrastructure development: Cox & Kings

"Overall, the thrust of this budget is on infrastructure development, which is what the tourism industry has always represented to the government," says Peter Kerkar, Group, CEO, Cox & Kings Ltd.

FM presented a balanced & positive Budget 2018: Tata Steel

“The FM has presented a Budget which is both balanced and positive. Focus on rural infrastructure, agricultural output and farmer income will help reduce the agrarian distress and boost the rural economy," says T V Narendran , CEO & MD Tata Steel India Limited.

Budget 2018 well balanced, benefits to senior citizens a welcome move: Kotak Mahindra Bank

"Overall, it was a balanced Budget with focused allocation given to priority segments that are needed to lay the foundation for India’s long term sustainable growth, with only a marginal slippage on the fiscal deficit," says Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank Ltd.

LTCG announced in Budget 2018 likely to promote short term transactions: Ranjeet Mudholkar

“With continued Securities Transaction Tax (STT), the LTCG on listed equities is additional burden and would promote short term transactions, given 15 percent STCG up to one year and 10 percent LTCG beyond one year with no indexation benefits," says Ranjeet Mudholkar, Vice Chairman and CEO, Financial Planning Standard Board of India.

Agricultural policies in Budget 2018 to benefit farming community: Monsanto India

“The Union Budget 2018 has reiterated the government’s rural focus and its commitment towards India’s agriculture sector. Announcements through measures regarding farm output seem to be the key highlight," says Shilpa Divekar Nirula, CEO, Monsanto India Region.

Macro economic assumptions seem realistic, deviation from fiscal glide path a risk in Budget 2018: HDFC Bank

"Deterioration in quality of spending (increase in revenue/capex ratio) remains a concern. Deviation from the fiscal glide path is a risk and could trigger bond yields/interest rates spiral," says Abheek Barua, Chief Economist at HDFC Bank.

Disappointed with the increase in customs duty: GJEPC

"We are disappointed with the increase in customs duty of cut and polished Diamonds and cut and polished coloured gemstones from 2.5percent to 5 percent, as it was not included as part of the industry’s recommendations to the Government," says Pramod Agarwal, Chairman, Gem & Jewellery Export Promotion Council.

Budget 2018: Focus on rural income and productivity; positive for FMCG sector

Boost in rural sector should aid the fragile rural recovery and spur consumer demand.

Tax incentives for MSMEs in Budget 2018 to help better financing & ease cash flow issues: M&M Financial

“We look forward to the tax incentives indicated for MSMEs, this should enable better financing and ease the cash flow issues faced by the sector," says Ramesh Iyer, MD, Mahindra and Mahindra Financial Services Limited.

Re-invigorating inclusive growth with 'All in Budget', rate it as 9/10: Rana Kapoor, MD & CEO, Yes Bank

"The FM has provided a panoptic flavor to the FY19 Union Budget. The admirable ‘All-in’ Budget has delivered beyond expectations in a bid to reinvigorate growth that is sustainable and equitable, leveraging fully on the available fiscal space," said Rana Kapoor, MD and CEO of Yes Bank.

COMMENT-Budget 2018-Focus on healthcare is good, but don’t degrade the quality