Media Roundup: 22 February 2010

Media Roundup: 22 February 2010

Financial Express: India needs reforms to meet challenges

This budget 2010, the finance minister will have to focus on various issues to keep India on the high growth trajectory.

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The Hindu: Impact of recent policy measures on banking

In the goal of increasing infrastructure spending to more than 9 per cent of GDP by 2014, Harsh Bisht, the India Leader for Banking and Capital Markets Practice in PricewaterhouseCoopers, sees a major positive for banking.

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The Hindu Business Line: Volatility to rule the roost

Equity market this week may turn volatile ahead of the 2010-11 Budget on Friday.

The sentiment, even though the benchmark index posted gains last week, has tuned negative on fears that pressure of ballooning inflation and fiscal deficit may force the Government to make uneasy compromises. Apprehension is also lurking that interest rate may firm up before expected.

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The Hindu: Focussing on fiscal consolidation

The Prime Minister’s Economic Advisory Council’s Review of the Economy 2009-10, coming as it does just a few days before the Union Budget, is particularly significant this year. The EAC has brought up to date the major macroeconomic trends, a task that will be carried forward by the Economic Survey and the budget.

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The Financial Express: Rationalise taxes, reduce STT & stamp duty: Investors

With just five days remaining for the presentation of Union Budget 2010-11, the capital market is expecting the finance ministry to address their demands. And once again, on top of the list is the reduction of Securities Transaction Tax (STT) and stamp duty apart from rationalisation of taxes to ensure a level playing field for all market participants.

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The Financial Express: The Budget getting more clarity

The euphoria of the gains from 2009 is beyond investors. And there are new fears that grip the equity market. Domestically, inflation is catching up and the pressure on the government to exit the stimulus package are ever increasing.

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The Financial Express: IT sector looks for additional tax benefits

The country’s IT services and BPO firms, that have been facing tough time with client budget cuts and increasing political pressure in the US and Europe, are looking forward to additional tax benefits in the Union Budget 2010-11.

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The Financial Express: Futures markets have a lot to expect from the Budget

More than any other time, this decade promises to make commodities central to global economies. India can be at the centre of the commodities universe as a large producer and consumer of several commodities.

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Economic Times: India Inc confidence recedes as rollback clamour grows

India Inc’s business confidence level, which showed signs of improvement in past three quarters after a year of economic slowdown, has ebbed again on fears that the government will withdraw the stimulus package in the upcoming budget, says a survey by industry body Ficci.

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Economic Times: Budget 2010: It’ll be fiscal prudence & growth

Budget 2010 may disappoint those who are expecting major policy announcements or for that matter the stock markets but the annual February exercise this year will, perhaps, be the keystone for India’s future growth story.

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Business Standard: Fast on some, stuck on others - Pranab’s mixed bag

Finance Minister Pranab Mukherjee had made 45 major announcements in his Budget speech for 2009-10. As he prepares to present his next Budget for the United Progressive Alliance (UPA) government on February 26, Mukherjee may well pat himself on the back for having fulfilled almost four-fifths of the promises he had made less than eight months ago.

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Bsuiness Standard: Fiscal reform likely to top the Budget agenda

As Finance Minister Mukherjee prepares to deliver his second budget in the midst of competing expectations of stakeholders, it will be interesting to observe his approach and policy directives for achieving balanced growth keeping in line with economic realities.

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Business Standard: Expectations from Budget for indirect tax

Now that Budget 2010 will soon be upon us, it is worthwhile to look at what it could hold in place with regard to proposals on indirect taxes. This article seeks to do some crystal ball gazing.

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Business Standard: Sanjaya Baru: The Pranab Mukherjee Budget

After more than a quarter century, finance minister Pranab Mukherjee will be presenting this week what he could finally claim is “his" Budget to Parliament. In his first stint as finance minister, in the early 1980s, the shadow of Indira Gandhi would have loomed large for such a claim to be made at the time.

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Business Standard: Tightrope walk

Maintaining a balance between growth and fiscal discipline will be the Finance Minister’s key challenge. Will he deliver?

Unlike last year, when India’s economic growth had decelerated amid the global crisis, the Finance Minister faces a trickier task this time around-- that of maintaining growth and lowering fiscal deficit. In 2009, the focus was on improving growth.

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The Hindu Business Line: Anxious signals from telecom

From a tax perspective, what the telecom sector expects from Budget 2010 is a simplified tax regime, says Naveen Aggarwal, Executive Director, KPMG.

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