Share |
Investing in India? Get Equitymaster Research

Mahesh Vyas, Exec. Director - CMIE on the budget

We caught up with Mr. Vyas for his take on Budget 2003-4. He talked at length on the hits and misses of the budget, and gave his views on the industrial and investment climate in the country. Definitely worth a read.

  • 10 key measures of Budget 2003-04
  • Kanu Doshi, C.A. on Union Budget
  • Dr. Rakesh Mohan, Dy. Governor RBI on the budget
  • Sectoral Impact Analysis
    Software | Pharma | Tobacco | Hotels | Auto | Paint | Bank
    Cement | Telecom | Power | Housing | Consumer Durables
    Media | Energy | Petrochemicals | Steel | Aluminium | Shipping | FMCG
  • Over the years: Budget 05, Budget 03, Budget 02


    Budget 2004: How will it impact your personal finances?

  • Taxpayer's rejoice!
  • Equity Funds: All the triggers are there...
  • Debt Funds: Will dividends do the trick?
  • Insurance: Are private players losing out?
  •  Interview:
  • R. Sukumar, CIO, Franklin Templeton New!
  • Kanu Doshi, Tax consultant
  • Shikha Sharma, MD, ICICI Pru Life Insurance
  • B.V.K.Mohan, Head Eq. Research, IL&FS MF
  • S. Kirkire, VP - Fixed Income, Kotak AMC


    Post-Budget Specials

  • FDI: Private banks get a leg up
  • Govt. revenues: Riding on hope
  • The 'other' side of budget
  • Politics for the individual


    Budget reactions from industry leaders


    Mr. Mohandas Pai, CFO - Infosys
    The finance minister has fulfilled most of the aspirations of the IT industry. Providing the tax exemptions also upon change in ownership or shareholding in case of amalgamation or de-merger will expand the market.Investments in 2 international airports and roads will improve the infrastructure for better connectivity. Tax rebates for dividends and capital gains will help reduce the cost of equity for companies in the knowledge sector.


    Mr. Ashwin Dani, Vice Chairman and Managing Director, Asian Paints (India) Limited
    Infrastructure sector continued to be given priority by the sanctioning of Rs 810 billion (US$ 17 bn) that will be invested for the modernisation of airports, seaports and development of new road projects. The Finance Minister has continued the rebate of Rs 150,000 on taxable income for individuals who have availed loans for housing. Construction companies will get income tax exemption for approved housing projects upto 2005. All this will benefit the housing sector and will have a positive impact for the paint industry. Lowering of customs duty and a 50% reduction of surcharge on corporate tax will benefit the sector.


    Mr. H. K. Press, Ex. Director & President - Godrej Consumer
    The budget has only partially met the expectations of our industry. The main positive is the reduction of the maximum rate of import duty from 30% to 25%. The reduction of IT surcharge may not help to stimulate demand for our flagging categories. The much needed reduction in excise duty did not come through except fro rationalization of alcohol based toiletries. Thus the budget has not taken the opportunity to take the business to a higher plane.

    Budget Reactions - Mr. Ravi Uppal, V. Chrmn. & MD - ABB India
    Union Budget 2003-04 - Marico's Comments


    Economic Survey: 2003-2004

  • Power: Light ahoy?
  • Industry: Good year
  • Govt. Finances: Need more control
  • Banking: Better times ahead
  • External sector: Waiting for recovery...


    Pre-Budget Special

  • India Inc: Sweating it out
  • India: Looking through the 'US' glass
  • Key measures - Railway Budget 2004
  • Industry: Waiting to happen
  • Time for action is NOW!
  • Budget 2002-03 - A refresher
  • Understanding the Budget
  • Views on the Indian Economy

  •   Your feedback is important to us

    Your comments


    Market Commentary


  • FIIs: Over the decade
  • Leading Indices