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Archive for February, 2011

Capital goods sector expects the government to selectively raise import barriers for capital equipment, especially power equipment to facilitate domestic players.

Auto sector expects the government to keep excise duty rate unchanged in the Budget. In the previous budget, the excise duty was increased by 2%.

The IT industry expects the extension of the sunset clause on tax exemption for software technology parks under Section 10 A/10 B which is due to expire in March 2011.

Metal sector expects hike in import duty on HR coil from 5% to 10% in the Budget. The metal industry also expects a continued thrust on infrastructure spending in the Budget.

Banking and financial sector anticipates that the government might cut the tenure limit for tax exempt deposits from five years to three years in the Budget.

Markets also expect government subsidy/concessions on interest rates to be provided on lending to State Electricity Boards (SEBs) given their weak financial health.

Another expectation is that of a hike in limit of refinancing from India Infrastructure Finance Company (IIFCL) to commercial bank loans for public-private partnership (PPP) projects in critical sectors from the current Rs 6000 crore.

The cement sector has sought a uniform rate of excise duty on cement as compared to differential rate of excise duty on cement sold above or below maximum retail price (MRP) of Rs 190 per 50 kilogram bag.

The FMCG sector anticipates a continued thrust and higher allocations to social and developmental programs.

The media sector expects a relaxation of foreign direct investment (FDI) norms i.e. an increase in FDI limits from currently 49% in direct to home (DTH) and cable, 26% in news broadcasting & print media and 20% in radio sector.

Source : Capitalmarket.com

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