Finance Budget 2011 Highlights

Budget analysis: Finance services 

01-03-2011

Budget 2011 proposes relatively limited changes in the taxing framework for the Financial
Services industry. Though, on the face of it, it may appear that the Budget could have done more
for the Financial Services industry, on balance, it seems to be a fairly good budget as it has
targeted an annual growth rate of approximately 8.6%, and has put much more emphasis on the
infrastructure sector, whi

Budget 2011-12 is a positive budget: Nirmal Bang 

01-03-2011

Nirmal Bang has come out with a report on Post Budget 2011-12. Budget Highlights: FM has
surprised equity market with 4.6% fiscal deficit target against the earlier target of 4.8% for the
year 2011-12 set in the previous budget. The lower fiscal deficit budget has come without any
increase in excise duty rates. 2010-11 fiscal deficit is estimated at around 5.1% supported by
higher than expected no

Budget 2011: Is it positive for the metal sector?   

01-03-2011

Finance Minister Pranab Mukherjee announced the Union Budget 2011-12 in Parliament
yesterday. In an interview with CNBC-TV18, Prasad Baji, Senior VP - Institutional Equities,
Research, Edelweiss Securities and J Mehra, Director, Essar Group and CEO, Essar Steel
Holdings, speak about the announcements made for the metal sector. Below is a verbatim
transcript of his interview with CNBC-TV18's Latha

Not much focus on IT industry in Budget 2011: Patni 

01-03-2011

Union Budget quote by Jeya Kumar Chief Executive Officer, Patni å…¸he Union Budget lays
specific emphasis on controlling fiscal deficit and accounts for adequate intervention from the
RBI to curb issues of rising inflation. Sectors such as Agriculture, Infrastructure have been
appropriately addressed in the budget but there isn稚 as much focus on the Information
Technology industry. We believe t

Union Budget 2011-12: Aditya Birla Money 

01-03-2011
Aditya Birla Money has come out with a report on Union Budget 2011-12. Budget Highlights:
The budget for 2011-12 has been a good balancing act by the FM, as he was facing the daunting
task of stimulating the economy, keeping the inflationary expectations under check and at the
same time boosting public finances. There were quite a few positive surprises which put some
apprehensions at rest - Budg

India Budget 2011: What is there for PE and VCs? 

01-03-2011

Budget 2011 provides a sweetener for Private Equity Houses in India especially in the
infrastructure sector and enhancing limits for foreign investments in the country. While sectors
like the power sector have been given special attention, there appears to be some ignorance of
the IT sector in terms of non extension of STPI tax holiday period and additional tax for SEZ
units. It is certain that th

ASSOCHAM describe proposals of Budget 2011 as positive 

01-03-2011

ASSOCHAM cheers budget proposals aimed at reducing fiscal deficit. Apex chamber
ASSOCHAM described the proposals of Union Budget for 2011-12 as positive and encouraging
which attempt at reducing the fiscal deficit down to 5.1 per cent from the earlier estimate of 5.6
per cent for the current fiscal year and 4.6 per cent for the next. The budget provides a
roadmap for the fiscal 2011-12 wi

Union Budget 2011: India Inc assesses the math   

01-03-2011

è…ºeauty lies in the eyes of the beholder. So, if you were amongst those Indians that were
expecting a budget that was bold on reforms and present a new vision, which has been sorely
lacking in the last year and half of this government, then you would be sorely disappointed. But
if you were amongst those in corporate India that believe that if you cannot do any better, don稚
make it worse then y

Budget analysis: Tax amendments 

01-03-2011

Given the impending revamp of the direct taxes regime in India through the implementation of
the draft Direct Taxes Code in 2012, the Union Budget for the year 2011-12 was expected to
have relatively few proposals. The Finance Minister, Mr Pranab Mukherjee, did exactly that by
concentrating on bolstering existing policy initiatives and rolling out new ones especially in the
infrastructure and fina
Budget analysis: Infrastructure and real estate 

01-03-2011

Budget 2011 doled out quite a few measures both tax and non-tax in order to boost investment in
infrastructure sector. Key non-tax proposals include issuance of tax-free bonds to the tune of Rs
300 billion, extension of tax exemption by a year on tax-saving infrastructure bonds, proposal to
introduce special infrastructure debt funds to attract foreign financing in infrastructure sector and
hike i

Budget disappointing for IT-BPO sector: NASSCOM 

01-03-2011

NASSCOM today expressed its disappointment on the Union Budget Proposals 2011-12 that
chartered a roadmap on sustaining a high growth trajectory for the country, but missed the
relevant thrust for business to enable this growth. MAT imposed on SEZ; 10A/10B tax
incentives withdrawn Policies announced for service tax refunds; transfer pricing need to ensure
implementation Focus on technology imp

Budget 2011-12 Impact: Sectors that lost/gained the most 

01-03-2011

Fairwealth Securities has come out with a report on Union Budget 2011-12. Union Budget 2011-
12: Balanced and growth oriented The Union Budget 2011-12 presented today by the Finance
Minister seems balanced and growth oriented. Agriculture, Infrastructure and Social sector have
been the focus areas. The budget has sought to promote growth with an inclusive agenda.
Consequently, substantial plan out

Budget analysis: Education and healthcare sector 

01-03-2011

Budget 2011 proposes an increased outlay of Rs 520.57 billion on school and higher education.
The Finance Minister has also allocated Rs 210 billion towards implementation of Right of
Children to Free and Compulsory Education Act, 2009 which came into effect from April 1,
2010. There was no announcement on the Foreign Educational Institutions (Regulation of Entry
and Operations) Bill, 2010. Meanwh

Bombay Chambers welcomes Budget 2011-12 

28-02-2011

Welcoming the Union Budget 2011-12 today presented by Finance Minister Pranab Mukherjee,
the Bombay Chambers said it is very positive with a emphasise on inclusive growth. "This is a
very positive and growth oriented Budget, despite the constraints within which it was presented,
where the focus is more on the inclusive growth," Bombay Chambers of Commerce and Industry
(BCCI) Chairman Nit

Union Budget 2011: 'Right intents but lacks hard decisions' 

01-03-2011

By Abhijit Gulanikar, CIO, SBI Life Insurance Bond The budget speech by Finance Minister
was as per the script without any significant change in tax law or in the pattern of expenditure.
Some of the important steps announced, that are positive for the markets are (1) Resolve to
introduce various long pending finance sector bills in the current session of parliament primarily
the Insurance Laws; B

Union Budget 2011: Mukesh Ambani cheers it 

01-03-2011

Mukesh Ambani, Chairman and MD, Reliance Industries is gung-ho about the Union Budget
announced by the Finance Minister Pranab Mukherjee yesterday. According to Ambani, the FMç
—´ emphasis to address systemic issues around high food inflation by focusing on farm
productivity, and reforms in agricultural produce markets, reflects maturity of response and
interest in a longer-term solution, apart fro

Budget 2011 - development oriented: OP Bhatt 

28-02-2011

SBI Chairman OP Bhattç—´ comments on the Union Budget 2011:   The Budget is
development oriented with a range of growth promoting initiatives.   It has highlighted
some challenges in the Indian economy which need to be tackled urgently. One challenge is
fiscal consolidation and the imperative to build fiscal credibility by sticking to the 13th Finance
Commissionç—´ roadmap for de

ITC, BHEL, autos, financials among key beneficiaries: MOST 

01-03-2011

Motilal Oswal has come out with a report on Union Budget 2011-12. The Union Budget 2012
has been presented amidst assumptions of a robust economic environment in FY12 with nominal
GDP growth of 14%, tax revenue growth of 18% and a significantly lower fiscal deficit at 4.6%
(vs 5.1% YoY). The path to fiscal consolidation (a key focus point), however, will be difficult as
subsidies are under provide

Budget 2011: Pranab's core team explains the fineprint   

28-02-2011

Finance Minister Pranab Mukherjee presented Union Budget 2011-12 amid rising inflation, tight
liquidity, high interest rate, industrial slowdown, delayed reforms and negative market sentiment.
In an interview with CNBC TV18, revenue secretary Sunil Mitra, secretary of economics affairs
R Gopalan, S Dutt Majumder, Chairman, CBEC and Sudhir Chandra, Chairman, CBDT analysed
the budget in detail, and

All is well... let's now focus on execution: Nilesh Shah 

01-03-2011

By Nilesh Shah Indian Budget is presented in a tone of 'All is well'. Letç—´ hope that this
attitude is with a view to face the problems staring at us with a positive mind set rather than an
Ostrich like behaviour of not recognising them. India has witnessed rapid growth in
last five years even though Global Scenario was not supportive. However this Rapid
Economic Growth came on the back