FM Arun Jaitley and ministry officials with #Budget2017
Final decision on budget to be taken by speaker, decision expected by 10 a.m.
BUDGET EXPECTATION: Post demonetisation, expectations of measures to boost demand are high – in the form of personal income tax cuts and higher social spending especially targeted at lower income population, says Gautam Chhaochharia, ED & Head of India Research, UBS Securities
Sensex opens marginally higher, Nifty still below 8,600 ahead of the Union Budget.
SECTORS TO WATCH: Agri-related spending increase would be positive for Fertilisers, Consumer Staples, Tractors and 2Ws. 4) A reduction in personal tax rates could benefit Consumer Discretionary and Autos. 5) Higher infra spending would be positive for Cement, Roads, Railways, Logistics and CVs.
will be presented, obituary may happen before or after it, government has spoken to all parties and arrived at consensus: Government sources
Market Watch: Information technology stocks remain under pressure. Nifty IT index top sectoral loser, sheds over 1.5% in morning trade. Infosys, TCS, Tech Mahindra, HCL Technology among top losers
BUDGET EXPECTATIONS: The government could announce measures to support growth in the budget either in terms of increased spending, or some tax relief, or both. We think the key spending themes in the budget are likely to be “rural spending” and “greater capital spending” — GOLDMAN SACHS
BUDGET EXPECTATION: Given constraints on the private sector’s balance sheet, we think the government’s push on infrastructure, especially on railways, roads and defence, could continue in FY18. We expect the government capital spending to increase by 26%. However, the government’s spending priorities are likely to remain directed towards creating assets rather than giving subsidies — GOLDMAN SACHS