Wishlist: Pre-budget expectation views by Nilesh Sathe, CEO, LIC Nomura MF

Updated: February 21, 2015 1:59 PM

Expectation from Mutual Funds...

budget 2015, Budget news, Union budget, Budget date, budget day, budget 2015 expectations, budget 2015 india expectations, budget wishlist 2015, budget wishlist, India IncUnion Finance Minister Arun Jaitley speaks at the launch of Central Services on eBiz Portal at National Media Centre in New Delhi on Thursday. PTI

Expectation from Mutual Funds

·         Simplification of rules for Investments by NRI from US in Indian Mutual Fund schemes
·         Make Indian equity market accessible to overseas market participants like in other Asian countries.
·         Separate regulator for Mutual fund to focus on the growth and penetration of Mutual Fund.
·         SIP in equity ETF and Index related funds should be made eligible investments under section 80 CC and the exclusive limit should be given up to Rs. 50000
·         Some allowance should be given to AMCs for opening offices in tier2 and tier 3 cities to promote MF business in these areas.

Expectation from General Budget

·         Focus on Reforms like road map for implementing GST which will give higher revenue to both centre and state.
·         Subsidies will reduce by will reduce due to nil under recovery by Oil companies in respect of petrol and diesel
·         Additional revenue of Rs 50000 cr by way of increase excise duty on petrol and diesel done during current year.
·         Custom duty on crude oil of 5% may be restored back in the current budget which will give addition revenue.
·         Access on direct tax and services tax may be levied to generate revenue for Clean India Campaign.
·         Good reforms in PDS and PPP infrastructure investment and direct benefit transfer payment of all subsidies.
·         Expect Fiscal deficit around 3.6% as against 4.1% of last year projection.
·         The revenue deficit may be more healthier to enable the government to embark on capital  expenditure in a big way and kick start Growth.
·         Expect MAT on SEZ s to come down,
·         Some measures towards consolidation of Banks

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