Budget FY17-18 - Please All budget: lacking anything to spur economic growth - India Nivesh Securities Ltd

In our pre budget note released on 27nd February, 2016 we mentioned that market is going into the budget with very high expectations as this is the first budget after demonetization & was perceived to be some kind of “fix it” budget. We believe our expectation from this budget has come out to be mixed bag with positive coming from not tinkering with long term capital gains taxat

FY18 Union Budget Review - Prudent math but growth support limited - RCML

The Union Budget’17-18 chose to slightly deviate from the fiscal consolidation path, budgeting for a FY18 fiscal deficit at 3.2% of GDP (vs. 3% earlier). Tax revenue assumptions were modest, but disinvestment and telecom receipts projections were optimistic even as demonetisation-led gains could help bridge the shortfall. Expenditure growth was muted and most existing schemes were continu

Union Budget 2017-18 - Impact Analysis - Dun & Bradstreet India Ltd

A MACROECONOMIC PERSPECTIVE

The Union Budget framed by the current government for FY18 should be perceived in the backdrop of major headwinds that has and would have a profound impact on the growth prospects of the Indian economy. The uncertainty related to Brexit and Trump’s policy moves, elevated oil prices and geopolitical uncertainty has heig

Budget 2017: Key Highlights and Sector Impact - Angel Broking

Key Highlights of Union Budget 2017-18  

* Fiscal discipline to be maintained  

* Widening tax base and higher tax compliance to boost direct tax collection  

* FY2018E indirect tax collection to grow slower on higher FY2017 base  

* Telecom revenues rationalized  

* Disinvestment target

India Union Budget 2017 - A BDO India Publication

ECONOMIC INDICATORS

1. ECONOMIC INDICATORS

The FM presented the Economic Survey in the Parliament on January 31, 2017. The projected growth rate for fiscal year 2016-17 was 7.6%, however global events coupled with demonetization will pull down the growth rate below 7% of the GDP.

While the first hal

Union Budget 2017-18 - It's just the Appetizers for MODIFUL 2019 - Prabhudas

Sticking to Fiscal prudence, the name of the game:

Despite the demons of demonetisation resulting in reduced consumption and consequently slowdown in the economy, the fiscal deficit was maintained below the targeted level for FY17 at 3.2% and has targeted to maintain at 3.2% for FY18 and at 3.0% in FY19. The budget has focused on improving domestic gr

Union Budget (2017-18) - No bad news is good news - Sharekhan

The Union Budget for FY2017-2018 aims to stimulate the Indian economy through healthy allocation toward Housing, Agriculture and Rural sectors, besides infrastructure development - with primary focus on Railway, Roads and Waterways. At the same time, the Budget projects to limit the fiscal deficit at 3.2% of GDP. The net market borrowings at Rs3.48 trillion in FY2018 is lower than market expect

Union Budget Analysis : FY 2017-18 - A nuanced approach - Kotak Sec

FM has projected a 3.2% fiscal deficit for FY18, which looks 'Achievable', with total receipts projected to rise by only 6% YoY. Net tax revenues are projected to rise by 13%. The budget has rightly focused on maintaining the fiscal disciple while maintaining the direction of the economy by allocating higher investments on infrastructure, rural and agriculture sector, to support equitab

Union Budget FY17-18 - LKP Securities Ltd

Budget - A breath of fresh air

*  The Union Budget presented today may not have pleased many but in our view it was strong on fiscal prudence, rural development, affordable housing thereby providing the much needed impetus for capital expenditure.

*  By maintaining status quo on the most feared aspect of capital gain tax on equity t

The Budget displays a continued focus on structural changes - ICICI Sec

“The Budget displays a continued focus on structural changes that will be long term positive for the economy. It balances fiscal discipline with a growth push that is targeted at rural consumption, capacitisation and  infrastructure. This will certainly have a cascading positive effect on many related sectors.  The proposed reduction in tax will be constructive for improving ove

Basically, a feel-good Budget… - Religare Sec

The Budget was a fine balancing act as it provided a boost to demand and at the same time did not veer away by much from the path of fiscal consolidation. Notably, the Budget this year was presented in the backdrop of relatively higher expectations by both – consumers and corporates, which were affected by the government's demonetization drive. Most of the announcements made by the Fi

Budget 2017-18 : Rurally yours - SPA Sec

This budget is taking the country one step closer to the vision of this man who can very aptly fit into this very filmy dialogue “main jo bolta hoon woh main karta hoon”. This budget takes the country a step closer to the vision of a transparent, efficient, clean and digital India (& ofcourse less corrupt). The bold move of demonetization followed by this rhetoric of further att

Fiscal Prudence combined with Thrust on Rural, Infra & Housing - Reliance Sec

Amidst reviving global macros and receding headwinds in domestic recovery post demonetization, the Union Budget 2017-18 has focused on following key areas (1) meeting fiscal consolidation trajectory as envisaged under FRBM Act (fiscal deficit at 3.2% for FY18E and 3.0% for FY19E) (2) increased outlay for rural economy and infrastructure (3) buoyant net tax revenue, aided by receipts from demone

The Economic survey pegs FY17 real GDP growth at 6.5%-6.75% - Motilal Oswal

Below is the views on Economic Survey by Mr Nikhil Gupta – Economist, Motilal Oswal Securities Ltd.

The Economic survey pegs FY17 real GDP growth at 6.5%-6.75% and FY18 growth at 6.75%-7.5%, lower than the general market expectation of 7.7%-8% FY18 growth. The Survey sounds cautious on relaxing the fiscal consolidation path. It asks the Centre and stat

Receding fiscal support prognosticated on private demand revival - Emkay

Budget entails receding fiscal support

* Union budget appears less reflationary than expected with a modest 6.7% spending growth, bifurcated between 6% revenue spending (86% of total spending) and 11.5% capital spending growth. Rural-agri sector commands a 12% higher allocation and infrastructure allocation rises by 11%.

* Rest of the allocat

Investor sentiment improving, passage of GST to act as catalyst: Citigroup

Investor sentiment towards the Indian economy is improving but markets are now looking at the passage of key reform bills like the Goods and Services Tax (GST) to act as "new catalysts", says a Citigroup report. Expectations on structural reforms however remain low and "could be a positive catalyst if GST gets passed", it said as per the PTI report. According to the globa

Option Strategy for Union Budget of India 2016 - LKP Securities Ltd

Rationale? The expectations from the budget this time around are mixed as evident from the pre?budget move in Nifty. However, it is important for markets in the sense it can help halt the fall in the Indian indices. If it meets some part of the expectations then nifty can rise till 7200?7250 where major resistance lies and on the other hand if it fails to entice market parti

FY17 Union Budget Preview - Religare Capital Markets Ltd

The Modi Govt. will present its third budget on 29 February. We believe the Govt. has no choice but to stretch fiscal consolidation goalposts once again amidst the sharp slowdown in nominal GDP growth, rising public capex needs and an escalating wage bill (7th CPC). We expect a 3.8% fiscal deficit-to-GDP ratio vs. 3.5% targeted (FY16E: 4%), which could put the Govt.’s credibility at ri

Union Budget Expectation 2016-17 - GEPLCapital Ltd

NDA government finance minister Mr. Arun Jaitley will be going to present third time union budget for 2016-2017 on 29th February 2016. Mr. Narendra Modi led Indian government has lot of challenges to keep the harmony between fiscal deficit and GDP growth. Many of us are expecting 7% to 7.5% GDP growth for the fiscal year and also deficit to go down from 3.9% to 3.5%. Inflation which had been

Union Budget Preview 2016-17 -Sharekhan

Tough choices

Fiscal prudence or fiscal stimulus? Tax cut or tax generation? Reformist or mundane?

Amid a slowing global economy, uncertainties arising out of a crash in the commodity markets and slackness in the domestic economy, the finance minister (FM) has to make difficult choices in the forthcoming

Wish list for Union Budget 2016-17 - Religare Securities Ltd

Pre - Budget Expectations : 2016-17

Budget 2016-17 is round the corner and market expectations are high from this budget. Looking to the current economic scenario, the upcoming budget offers an important opportunity for the government to initiate various long term reforms. The FM may look towards the wishlist and hopes of many corporates, which rev

Will the FM strike the right balance? - Angel Broking Pvt Ltd

Will the FM strike the right balance?

The Finance Minister (FM) will present the Union Budget 2016-17 on February 29, 2016 which will be the third budget from the NDA-led government in its current term. All eyes are set on whether he will be able to increase investment spending, while adhering to the path of fiscal consolidation.

We cannot emphas

Wish list for Commodities budget - Religare Securities Ltd

Key areas of concerns and expectations for the commodity sector

* The yesteryear’s SEBI-FMC merger was a step in the right direction that will strengthen the commodity market.

* Removing regulatory constraints on banks and mutual funds to participate in the commodity futures segment and allowing trading in Options and Indices in th