Impediments cleared; challenges yet to be addressed

The nuisance called CTT has been put to rest. The momentum was which murdered and the fundamentals which got flawed have been put back on the rails.

CTT abolition raises hope of more steps

In a bid to expand commodity futures markets that has been reeling under the impact the repeated government interventions, Budget 2009-10 abolished the Commodity Transaction Tax proposed in the previous budget.

Rating agencies remain cautious on Budget impact

India’s proposed budget deficit of 6.8% of the gross domestic product, the widest in 16 years, is “within the boundary of our expectation,” according to Standard & Poor’s.

Pension funds cheer Budget

The finance minister Pranab Mukherjee, in his Budget speech on Monday, said that all purchases and sales of equity shares and derivatives by the NPS Trust will be exempted from the Securities Transaction Tax.

Moving from output-orientation to outcome-based orientation

Finance minister Pranab Mukherjee's Budget marks a turning point in the country's economic thinking. The Budget clearly proceeds with the view that a higher GDP growth rate is the principal instrument for poverty alleviation.

Insurance industry disappointed

The Budget for 2009-10 did not go down well with the insurance industry, which expected tax concessions on several schemes and a roadmap for raising the foreign direct investment cap to 49%.

Budget boosts financial inclusion

Finance minister Pranab Mukherjee has maintained the allocation of Rs 18,000 crore under rural infrastructure development fund for 2009-10 too.In 2008,the National Bank for Agriculture and Rural Development had paid Rs 18,000 crore under RIDF.

A practical approach to policy making and execution

The finance minister has adopted a practical approach, one that is consistent with the social orientation of the past three years.

Deficit, govt borrowings to impact rates, Re

Finance minister Pranab Mukherjee's attempt to strike a balance between growth and fiscal concerns in the 2009-10 Budget came in for praise from bankers, even as they thought that increased borrowing by the government may jack up interest rates and push the rupee downward.

Move to raise threshold of public holding in listed co

The proposal in the Union Budget to raise the threshold for non-promoter public shareholding in listed companies will bring in transparency and eliminate instances of price rigging, feel stock market experts.

Pragmatism rules, kudos for politically shrewd Budget

The finance minister needs to be complimented for the pragmatism that he has shown and for presenting a politically shrewd budget.

End to Euphoria

After Sensex plunges by 870 points following the Budget speech, there will be more sanity in the market

Positive on long-term fundamentals, negative for short-term sentiments

The reference to a review of the fiscal roadmap and inclusion of off- Budget liabilities in calculating fiscal deficits to present a truer and clearer picture and the Sixth Pay Commission Report impact may leave some fiscal headaches for future finance ministers.

Service tax to impact commodity, stock mkts

The proposal by Union finance minister P Chidambaram to bring stock exchanges, clearing corporations and commodity exchanges under the service tax net is seen as a big negative move for spreading equity cult in the country as the implementation of this proposal is expected to result in the rising cost of transaction on the bourses.

Mutual funds thrilled at FM move to bring ULIPs under service tax net

The MF industry is happy with Union finance minister P Chidambaram's attempt to bring a level playing field among the different segments of the financial services by bringing asset management services providing unit-linked-insurance plan (ULIP) under the service tax net.

Hike in STCG tax prompts market to plummet 3rd time in five years

During the last five years on days before and after the Budget, the market reacted negatively on three occasions.

DDT fix to prod holding cos to pay more dividend

The Centre has finally ended double taxation of dividend paid by subsidiaries to parent companies. Analysts said that the move was beneficial as it would correct the anomaly related to dividend distribution tax, even though it may result in some revenue loss to the exchequer.

Corporate bond market: Ball once again in Sebi court

The move by the Union finance minister to develop the corporate bond market along with the launching of exchange-traded currency and interest rate futures has once again put the ball in the capital market regulator Securities and Exchange Board of India's court.

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