Volatile markets disappointed over retro tax, no major reforms

Jul 11 2014, 09:54 IST
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SummarySensex ends 72 points down after witnessing a roller-coaster ride; Nifty also eased by 17.25 points.

defence sectors, providing incentives to REIT and long-term infrastructure loans.

However, Fitch Rating Asia-Pacific sovereigns group head Andrew Colquhoun said, “The overarching point of the Budget announcement is that the rhetoric and targets are credit constructive in many areas, including returning to 7 to 8 per cent growth and achieving budget deficit reduction (of 4.1 per cent this fiscal and 3.6 per cent next). However, implementation will be key.”

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