Industries expect the new budget to provide positive thrust and expedite growth
No Comments Sub Category:Realty News Posted On: Jul 10, 2014
Anand Rathi Institutional Research has many expectations from Finance Minister Arun Jaitley’s maiden budget to be presented on July 10. They want the revision of the interim budget fiscal deficit target upwards and a clear roadmap to recapitalize public-sector banks.
They also have a list of other expectations listed below-
- For the Technology sector, they expect a reduction in MAT (minimum alternate tax) and lowering of dividend tax from foreign subsidiaries.
- For consumer & retail, they expect an increase in excise-duty for cigarettes and increased government spending in rural areas.
- For auto and auto parts, the most important budget expectation have been met – the reduced excise duty extended till Dec-end.
- The infrastructure development should get a boost from the government policies. A single-window clearance would help large infrastructure projects. There could be increased outlay for urban infrastructure.
- For healthcare, MAT on SEZ / EOU units might be reversed and MAT may not be applicable to profit from SEZ (Special Economic Zone) units.
- For cement & building materials, greater infrastructure investments could revive the cement demand. Foreign investors should be welcomed in this sector.
- For construction, there could be increase in government spending on infrastructure and existing schemes. There should be higher limit for tax-free bonds by government agencies for long-term infrastructure financing.
There were many more such demands which is speculated by the industry bodies to provide a boost to their sectors and create more jobs in the coming months.
Source- The Economic Times
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Anand Rathi, Finance Minister Arun Jaitley's maiden budget, Minimum Alternate Tax, SEZ, Special economic zone
