- Custom Duty cut from 7.5% to 5% on Wind Power equipment – Negative for Suzlon
- No excise on Branded Jewellery: Positive for Titan, Gitanjali Gems.
- 5% customs duty on Set top boxes – Negative for Dish TV and Overall Broadcasting Sector
- Increase in personal tax exemption limit for Women by Rs10,000
- Mineral Oil includes Natural Gas – Positive for RIL
- No change in Interest deduction for Housing Loan. Negative for Real Estate.
- CTT to be abolished – Positive for Financial Technologies
- Propose to increase rate of MAT to 15% – Negative for companies paying MAT and Infrastructure companies
- Levy of Service Tax on goods transported by Indian Railways- Negative for Concor, Gateway Distriparks and AllCargo.
- No dividend tax on NPA Trust (Asset Reconstruction Company)
- FBT tax to be abolished – Positive for Corporate India
- GST on Target – to be implemented by April 2010 – Overall postive for Economy as higher tax collection for Government
- New Tax reform bill in Winter Session.
- New Tax reform bill
- Higher Fiscal Deficit – Negative for Banks
- Agriculture debt waiver and other financial inclusion measures – Sentiment negative for Banks
- Surcharge of 10% on personal Income tax removed – Benefit for Consumer spending
- STPI extension will delay plans to develop SEZ s. Negative for Real Estate Sector Companies.
- Increase in personal tax exemption limit for Senior Citizens by Rs15,000
- No changes in corporate tax
- STPI enhanced for 1 more year. Benefical for IT Companies.
- Additional Loan flexibility to State Govt. would benefit Road and Power Segment. Beneficial to : Hind.Const, Nagarjuna Const, Madhucon Projects, CESC, Lanco Infra.
- Increase in Planned Expenditure (34% yoy) – Positive for Infrastructure Sector.
- Rs1,000cr allocated for Damage Infrastructure
- Spend on CommoWealth games increased to Rs3,472cr.
- Unique identification Authority of India – Rs120cr provision
- Spend on higher education increased by Rs2,000cr.
- NREGA Allocation increased to Rs39,100cr – Positive for FMCG Companies
- Increase spend on Biometric Card to Rs350cr – an yoy increase of 40%.
- Higher allocation on Infra and Bharat Nirman by 45%, 23% higher allocation on NHAI
- RGVYP allocation in excess of Rs7,000cr
- Bharat Nirman Alloctaion up by 45% yoy.Positive for Infrastructure Sector.
- Government supports disinvestment – greater clarity awaited
- Increased allocation to NREGA by 144% To Rs39,100cr. Positive for Rural Economy
- Nutrient based fertiliser subsidiy for balance usage of all fertiliser. Positive for all Non-Urea Fertiliser manufacturers
- Committee for review of Petroleum and Oil Prices. Neutral on ONGC, GAIL and Oil Marketing Companies
- Looking at direct allocation of fertiliser subsidiy to farmer.
- Exposrt SOP s to facilitate trade due to interest rate subvention extended to sectors such as Gems, Leather and Textile. Positive for Concor. Buy Gateway Distripark.
- Stimulus Package for Print Media extended by another six months
- Government extends interest subvention scheme applicable for 7 export sectors by 6 months
- Allocation to JNNURM up by 87%
- Allocation to APDRP up by 160% to Rs2,080cr
- Allocation to Railways up from Rs10,800cr to Rs15,800cr.
- National Grid for Gas- Beneficial to L&T and Punj Lloyd
- Additional Rs1,000cr for accelerated irrigation Projects; an increase of 75% yoy. Beneficial to Jain Irrigation
- Buy IVRCL, Madhucon Projects
- Agri. Credit enhanced to Rs3,25,000cr as against Rs2,87,000cr in 2008-09
- 23% higher allocation to NHAI over 2008-09. Beneficial to Stocks like Nagarjuna Const. Hindustan Const. Madhucon Projects.
- JNNURM investments to tune of Rs12,877cr. BEneficial to Punj Lloyd, Simplex Infra.
- Beneficial to NCC, HCC Policy, regulatory and institutional bottlenecks to be removed
- IIFCL to refinance 60% of Bank Loans in critical sectors
- Infra investment to exceed 9% of GDP by 2014
- Ensure Agriculture growth at 4%
- India growth rate target at 9%
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