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MD - Goodlass Nerolac on the budget - Views on News from Equitymaster

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MD - Goodlass Nerolac on the budget

Feb 28, 2005

The impact of the budget announcements on the paint industry is neutral for the reasons given below:

  1. There is a reduction of 5% in custom duty but its not sufficient to take care of inflationary cost of crude oil, which is as such quite high. There is no distinction brought in the import of finished goods & raw materials, which was required. The expectations were of a sharper reduction than one announced.

  2. A reduction of 3% point in corporate tax is offset by reduction in depreciation.

  3. The benefit of interest on housing loan is retained and this will maintain the current pace of housing construction.

  4. Nothing has been announced for the Automobile industry, which will alter the current trends.

Overall thrust on development of infrastructure and agriculture sector will improve the economy and benefit all.


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