Budget 2013 factbox: Winners and losers

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Reuters:  Feb 28 2013, 20:04 IST
Finance Minister P. Chidambaram unveiled new taxes on the rich and large companies on Thursday to fund higher-than-expected spending for the next fiscal year, in a budget that aimed to revive growth amid the country's worst slowdown in a decade ahead of a 2014 election.

The following sectors/companies will benefit or be impacted by the budget proposals:

WINNERS

* Higher allocation for building roads should help highway developers, including IRB Infrastructure and Jaiprakash Associates. The budget also proposed a regulatory authority for the road sector and awarding of 3,000 kilometers of projects in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh in the first six months of 2013/14.

* Encouragement for infrastructure debt funds, a source for long-term low-cost finance for large projects, will be positive for companies, including construction and engineering conglomerate Larsen & Toubro and GVK Power & Infrastructure Ltd.

* Textile companies such as Bombay Rayon and Arvind Ltd are seen benefitting from a "zero excise duty" proposal for the struggling readymade garment industry. * Broadcasting companies including Entertainment Network India, TV Today Network, Reliance Broadcast and HT Media are expected to gain from the proposal to expand private FM radio services to 294 more cities. LOSERS

* Increase in excise duty on sport utility vehicles (SUVs) to 30 percent from 27 percent is seen hitting demand for such vehicles made by companies that include Mahindra & Mahindra and

... contd.

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