Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets falls as FM begins speech
Thu, 10 Jul 11:30 am

The finance minister has begun his budget speech in Parliament. The FM has stated that his priority will be to present a clear roadmap for the economy in this budget however he has played down expectations by stating that his task is challenging. The FM has said that the fiscal deficit target for FY16 and FY17 would be 3.6% of GDP and 3.2% GDP respectively. But the target for FY14 of 4.1% of GDP was a challenge.

Regarding the Goods and Services Tax (GST) he has stated that the finance ministry will work with state governments to operationalise the GST at the earliest.

The FM has promised to overhaul of the subsidy regime, including the fertilizer subsidy.

To boost the insurance and the defense sectors, the FDI limit in these sectors has been raised to 49% each.

The FM has stated that there will be no retrospective taxation in the Modi government.

To recapitalize the banking sector, the FM has stated that banks will raise money from the public. Banking sector in India will require Rs 2,400 bn for meeting the Basel 3 norms.

To boost the real estate sector, the FM has proposed to modify the REIT structure to act as a pass through vehicle which will enable realty firms to access funds more easily.

The FM has also set aside Rs 10 bn for irrigation schemes.

Regarding MNREGA, the FM has stated that more productive works will be taken up under this scheme.

After opening in the red the Indian indices have fallen further in the morning session as the finance minister presents the union budget in Parliament. Mid and small caps have fallen more than the benckmark indices.

The BSE-Sensex is trading down 265 points. The NSE-Nifty is trading down 80 points. The BSE Mid Cap index is trading down 1.4% and the BSE Small Cap index is trading down 1.6%. The rupee is trading at 59.76 to the US dollar.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Markets falls as FM begins speech". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.