RBI sets rupee reference rate at 65.3836 against dollar

The Reserve Bank of India has fixed the reference rate of the rupee at 65.3836 against the US dollar and 70.1893 for the euro. The corresponding rates were 65.5146 and 69.6224, previously.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 80.2649 and 57.73 per 100 yens, respectively, based on reference rates for the dollar and cross-cur

The Union Budget 2017 has laid a strong thrust on tax proposals by Ashish Mehrotra - Max Bupa Health Insurance

Below is the views on quote from Ashish Mehrotra, MD&CEO Max Bupa Health Insurance.

“The Union Budget 2017 has laid a strong thrust on tax proposals, prudent fiscal management and building a digital India.  The Finance Minister also spoke about the positive impact of demonetization and how it will create a new normal wherein the GDP will be bigger,

2/02/2017 12:15:02 PM | Posted in Post Budget Analysis read full news
Were expectations on more reforms around the life insurance sector by Mr. Vignesh Shahane - IDBI Federal Life Insurance

Below is the views on a quick Budget Comment by Mr. Vignesh Shahane, Wholetime Director & CEO, IDBI Federal Life Insurance

While there were expectations on more reforms around the life insurance sector, some of the other announcements are definitely a step in the right direction.  Doing away with 5% TDS on insurance agents’ commissions is a

2/02/2017 11:53:28 AM | Posted in Post Budget Analysis read full news
India Inc welcomes Union Budget, gives thumbs up to infra push

Indian industry stakeholders have hailed the Union Budget 2017-18, especially the measures announced by Finance Minister Arun Jaitley for infrastructure push, on affordable housing and for expansion of the BharatNet project among others.

Other measures, which got a thumbs up from India Inc include: Reduced corporate income tax rates for medium and small enterprises (MSME), infrastruct

Launch of health cards and extending 8% interest on savings through LIC is a welcome by MD - Alankit Ltd

Below for your reference is a budget reaction quote from Mr. Ankit Agarwal, Managing Director, Alankit Limited

“Union budget 2017-18 is progressive in its approach from an economic and policy reforms stand point as the key focus is on transforming, energizing and moving towards building a clean India. Much emphasis has been laid on ushering in digitally enabled

Good Budget, which focused on housing and for rural development - Tradebulls Sec

Dinesh Thakkar – CMD, Tradebulls:

It was a good Budget, which focused on housing and for rural development. Readjusting income tax will provide incentives to investment and consumption. The macro-level announcements are positive for the economy. Increased focus on transportation sector, which has a higher multiplier effect on the economy, will al

Government has presented a reasonably positive budget, given the constraints, from equity markets perspective by Mr. Rakesh Tarway - Reliance Sec

Below reaction on the budget by Mr. Rakesh Tarway, Head of Research, Reliance Securities

‘Government has presented a reasonably positive budget, given the constraints, from equity markets perspective. No changes in capital gains for listed securities and concessions to FPIs will soothe market nerves. Adherence to fiscal deficit target of 3.2% and roadmap for the

The Budget has managed a fine balancing act between providing a boost to demand and at the same time keeping an eye on fiscal consolidation by Mr. Jayant Manglik - Religare Sec

“The Budget has managed a fine balancing act between providing a boost to demand and at the same time keeping an eye on 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. Increasing the spend on the rural sector by 2

FM's fourth Budget, has put India back on the shopping list of FIIs by MD & CEO - HDFC securities

Below the comments on Union Buget by Dhiraj Relli, MD & CEO - HDFC securities

FM's fourth Budget, has put India back on the shopping list of FIIs. By restraining the fiscal deficit to 3.2% and promising to prune it down to 3% in the next year, FM has delivered on Fiscal prudence. All this has come about amidst 25% hike in government spending and a 19% red

The budget has focused on the rural sector and a marginal push to infrastructure by Mr. Jimmy Patel - Quantum AMC

Below is the quote on the Union Budget by Mr. Jimmy Patel, CEO-Quantum AMC

“This was, in my view, a tepid budget by all accounts. Neither any clutter breaking reform nor, thankfully, any major populist measure given the fact that state elections are around the corner, were to be seen. 

The build-up to the taxation proposition was great but the fin

The focus of this budget is on the rural and agriculture sector by Mr. Atul Kumar - Quantum AMC

Below is the quote on the Union Budget by Mr. Atul Kumar, Head-Equity, Quantum AMC

“The focus of this budget is on the rural and agriculture sector. Affordable housing has also been given a boost. There were some expectations of tax cuts or some announcements simplifying the tax structure, but looks like we will have to wait for that to come. There were some cha

Build Bharat, Digitize India, Growth & Investment for Masses , Create Long Term Growth sums up Budget 2017 by Mr. Dinesh Rohira - 5nance.com

Below the views on the budget 2017 by Mr. Dinesh Rohira, Founder & CEO, 5nance.com

“Build Bharat, Digitize India, Growth & Investment for Masses , Create Long Term Growth sums up Budget 2017.  The Finance Minister has captured majority population of this country into a positive mood vide this budget.  The message is c

In long term basis government focus on rural sector, youth and digital would gradually upsurge the economy by Mr. Shachindra Nath - Poshika Financial Ecosystem Pvt Ltd

Below a quick Budget Comment by Mr. Shachindra Nath, Investor | Mentor | Advisor, Poshika Financial Ecosystem (P) Limited

In long term basis government focus on rural sector, youth and digital would gradually upsurge the economy. The key highlights of the budget is abolishment of FIPB and awarding infrastructure status to Affordable Housing Sector. On Financial Sector

Quote on Budget by Mr. Arvind Chari - Quantum AMC

Below is the instant quote on Budget by Mr. Arvind Chari, Head - Fixed Income & Alternatives, Quantum Advisors

The Budget was neither Popular nor populist. It was a rather tepid budget, as has been the case lately. 

We liked the governments focus on fiscal prudence and the commitment, although delayed, to move fiscal deficit to 3.0% of GDP next year

Post-budget reaction by Mr. Parth Nyati - TradingBells

This is a very good growth oriented budget meant to benefit rural and urban population alike. IPO for public sector undertakings like IRCTC, IRFC and IRCON is a pleasant surprise and would ensure more retail participation. It is an extremely smart move for divestment. Reduction of corporate tax would benefit 96% of the Indian corporate having turnover less than 50 corers. We can see SMEs gettin

Arun Jaitley proposes IT for education, more skill centres

Students may see an increased presence of online courses at institutes of higher learning with Finance Minister Arun Jaitley on Wednesday proposing to harness information technology for learning purposes.

Presenting the Union Budget 2017-18 in the Lok Sabha, Jaitley charted out schemes aimed at enriching youths, and expressed his design to "leverage information technology through

1/02/2017 2:09:29 PM | Posted in Post Budget Analysis read full news
SHAKTI SATAPATHY, FIXED-INCOME STRATEGIST, AK CAPITAL, MUMBAI:

SHAKTI SATAPATHY, FIXED-INCOME STRATEGIST, AK CAPITAL, MUMBAI:

"The tone remains neutral with not so drastic surprises in terms of maintaining a sustainable fiscal consolidation roadmap. The 3.2% fiscal deficit target for FY 17-18 is largely in line with the expectation & the same has already been factored in the bond yields.

1/02/2017 2:06:01 PM | Posted in Post Budget Analysis read full news
Ananth Kumar calls Budget 2017-18 `revolutionary`

Union Minister Ananth Kumar on Wednesday called the Union Budget 2017-18 a revolutionary one and said it will benefit the farmers.

The Union Minister for Parliamentary Affairs, Chemical and Fertilizers, speaking on the budget, said: "It will bring transformation. It will take us on the path of good governance and clean political system."

1/02/2017 2:05:58 PM | Posted in Post Budget Analysis read full news
TIRTHANKAR PATNAIK, INDIA STRATEGIST, MIZUHO BANK

TIRTHANKAR PATNAIK, INDIA STRATEGIST, MIZUHO BANK, MUMBAI

"The fiscal deficit of 3.2 percent missed the target, but laudable efforts nonetheless. Markets should love the lower net borrowing figure of 3.4 trillion rupees.

"On tax reforms, the reduction of the corporate tax for SMEs to 25 percent is very welcome."

1/02/2017 2:04:42 PM | Posted in Post Budget Analysis read full news
VARUN KHANDELWAL, MANAGING DIRECTOR, BULLERO CAPITAL

VARUN KHANDELWAL, MANAGING DIRECTOR, BULLERO CAPITAL, DELH

"The fiscal deficit bit does not seem very credible. Jaitley is leaving room to exceed it at a later time. I think people will question the fiscal math over the next few days."

"On tax reforms, the only worthy mention, and an intelligent one, is the selective reduction of corporate tax

1/02/2017 2:01:28 PM | Posted in Post Budget Analysis read full news
AMIT JAIN, PARTNER, M&A, BMR & ASSOCIATES LLP

AMIT JAIN, PARTNER, M&A, BMR & ASSOCIATES LLP:

"If FIPB (Foreign Investment Promotion Board) is abolished it really means that there would be no sector under the approval route and everything will be under the automatic route. I think that's a great move. Even in sensitive sector like defense, where approval route is required, would be under the autom

1/02/2017 2:00:01 PM | Posted in Post Budget Analysis read full news
HEMAL MEHTA, PARTNER, DELOITTE HASKINS & SELLS LLP

HEMAL MEHTA, PARTNER, DELOITTE HASKINS & SELLS LLP

"Affordable housing is a priority for this government and it was expected to get infrastructure status. With infrastructure status, developers can access foreign funds at a cheaper cost by way of debt and it will be a priority lending for banks as well. This should result into a progress in the sector. The fi

1/02/2017 1:54:25 PM | Posted in Post Budget Analysis read full news
Expert views: India unveils 2017/18 budget; views on size of fiscal deficit mixed - Samrat Dasgupta

SAMRAT DASGUPTA, CEO, ESQUIRE CAPITAL INVESTMENT ADVISORS, MUMBAI

"He (Jaitley) focused on the rural side more, and he has recognised that demonetisation had brought some hardship to people. So he's trying to mitigate that as much as possible, with some rural schemes and reduction in taxation for low income people."

"Also, it will be a cha

1/02/2017 1:53:52 PM | Posted in Post Budget Analysis read full news