Friday, February 29, 2008

Budget Summery : India Says !



Central sales tax reduced to 2%
STT on option will be only on premium
Increase in short term capital tax 15% - Negative for markets

India Says No Change In Surcharge
India says no to corporate TAX rate
India Raises Income Tax Exemption To 150,000 Rupees
FM propoeses changes in Tax Slabs

Positive for Oil marketing companies
Positive for Tea, south based Cements
Positive for Auto
Positive for Pharma
India To Cut Duties On Steel Melting Scrap
Positive for Power sector

India increases allocation for defence by 10 %.
India To Spend More On National Highway Projects
Indian Govt Allocates 16.8 Bln Rupees To Information-Technology
India To Spend More On Textile Sector
India Allocates 129.7 Bln Rupees For Highway
India To Spend More On Information Technology
India To Start Fund For Power Transmission Reform
India To Take Manufacturing Growth To `Double Digit

FM to take Steps to boost industrial growth
Saving rate and Investment rate were 28.6% and 29.7% respectively, Says FM
India Inflation for week ended Feb 16 was 4.89%, against expectation of 4.7%
Tata Tea, Jayshree Rise On 400 Mln Rupees To Tea Fund Plan

India Says Overdue Loans As Of March 2007 To Be Waived


India To Spend 2.8 Tln Rupees On Farm Credit In Fy09
India To Give Special Attention To Northeast Region
India To Spend 120 Bln Rupees On National Rural Health Plan
India to allocate 15% more for health
India To Increase Spending On Education
India says FY09 should be year of consolidation
India says growth rate to be 8.7% this year
Indias Manufacturing grew 9.3% in three months to Dec. 31
Indian Economy grew 8.4% in Oct-Dec Quarter from year ago

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