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
