Fiscal Deficit pegged at 5.1%
Net market borrowings of Rs4.8lac crs
Divestment target set at Rs300bn
Raise agricultural credit target to Rs5,75,000crs
Infusion of close to Rs160bn to capitalise nationalised banks
200bps increase in service tax and excise duty from 10% to 12%
Issue of Tax Free Bonds of Rs600bn for financing infrastructure projects
Opportunity Missed
Absence of roadmap on implementing DTC and GST
Fuel Subsidy at Rs450bn seems to assume an impending oil price hike
Lacks concrete measures to kickstart the investment cycle
Diesel Decentralisation not taken up in the budget
Minor Rejig of personal taxation slabs unlikely to put more money in
the hands of the consumer
Higher taxation likely to fuel inflation
Please find attached file containing our view on – Union Budget 2012-13
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