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Budget Special

The Union Budget 2001-02

Economic Survey 2001-02

Exim Policy 2001-02

Credit Policy 2001-02

Railway Budget 2001-02

DETAILED ANALYSIS

• Cotton Textiles : Positively Knitted

• Aluminium : Negative impact due to reduction in customs duty

• Tea : Strong brew and good aroma

• Steel : Stretched and squeezed

• Fertilisers : Survival still hangs in balance for some units

• Power : Empowered by duty reduction and increased allocation

• Positive Impact on Cement

• Copper :Cowed down

CEO TALK

• A J S Jhala : Mixed Bag

• Vinod K Punshi : Discrimination against SSP unit continues

• Deepak C Mehta: Fertiliser industry at large will benefit

• D K Varma:Long term fertiliser policy not announced

• Prasad Menon: The general thrust on agriculture is good

• D D Rathi: Production costs of garments would reduce

• Adesh Gupta: Mixed impact

• Adi Engineer: Under delivered on expectations

• Anil Singhvi: Sinha misses another opportunity

• R J Masilamani: Discrimination should be removed soon

• Sajjan Jindal: Non ferrous metals' duty cut will improve margins

• Anil Agarwal: Customs duty reduction will have impact

• RC Nandrajog: Not a bad budget for the steel industry

QUICK ANALYSIS

• Small savers to feel the pinch

• Tax payers between the devil and the deep sea

• Hike in FDI limit eludes banking sector

• Telecom: Foreign connections!

• Mutual funds industry gets the thumbs up

• Software: Hard landing?

• Pharmaceutical: No R&D dose

• FMCG: Given push to move fast

• Increase in import duty on rubber to affect tyre industry

• Entertainment: More Gham Less Khushi!

• Centre to shell out Rs 100 billion more on subsidies

• Budget cheers FIIs; welcomes foreign investment

• Decrease in expenditure of Rs 10,787 cr in current fiscal year

• Budgetary support for I&B ministry increased by 22%

• Pension reforms set to roll

• 'The budget lacks any coherent direction'

• 'No specific measures to boost domestic demand for IT is a disappointment'

• Centre completes strategic sales in 7 PSUs

• 'Proposal to introduce a new Govt securities bill is another welcome step'

• 'Union Budget 2002-2003 is an average budget for the IT Industry'

• 'The �feel good� factor for telecom is missing'

• 'The salaried class is between the devil and the deep sea'

• 'A set of policies for the hardware to grow exponentially is still missing'

• 'The overall impact will be somewhat adverse'

• 'The budget is positive for the oil and gas sector'

• 'Budget fell short of expectations'

• 'There is no growth impetus for industry'

• The sweetener in mutual funds is gone, but the cake remains

• 'Some good news for auto and commercial vehicle industry'

• Centre to phase out remaining controls on farm exports

• 'This budget could trigger inflationary pressures'

• The rationalisation of duties in Textile industry is the only silver lining'

• Sensex sheds 143 points after disappointing budget

• Tyre Industry laid flat

• The chemical industry would find this Budget disappointing

• NRIs heave a sigh of relief

• 10% distribution tax scrapped

• Tea industry has something to cheer

• SED only on 8 items including PFY, motor cars, MUVs, soft drinks

• Corporate tax remains unchanged

• Sinha for transparent corporate debt restructuring of viable firms

• Copper companies cowed down

• Service tax emption to tourism extended by one year

• Protection for steel, IT hardware producers

• PSU stocks hit hard as divestment target disappoints

• Dismantling of APM on schedule

• Aluminium industry's margins to come down

• Indirect tax proposals

• Service tax extended to life insurance, cable operators

• Excise exemption to granite removed

• Further measures to boost investment in the infrastructure sector

• Excise on tea reduced from Rs 2 to Re 1 per kg

• AIDS drug exempt from excise duty

• Service tax extended to new sectors

• Power Industry empowered by lower import duty

• Refineries in NE states to charged only half excise duty

• Sinha to further liberalise capital account

• Fresh measures to strengthen housing finance companies

• Refineries in NE states to charged only half excise duty

• Power Industry empowered by lower import duty

• Slew of measures to boost investor confidence

• Fiscal deficit pegged at 5.7% of GDP

• Cess on crude oil doubled to Rs 1,800 per tonne

• Reforms in banking sector to continue

• Special package for textile industry

• Net tax revenues fall short of target by Rs 206.83 billion

• Pricing power of cement companies restricted

• Budget 2002-03 heralds further legislative changes in UTI Act

• New Corporation for Agriculture Insurance

• Sinha plans integrated market for agricultural products

• Sinha raises credit flow to the agri sector to Rs 750 bn

• Interest rate cut on state-run savings schemes

• Small savings rate cut by 50 basis points

• Sinha sets up Urban Reform Incentive Fund

• Major ports to be privatised in a phased manner

• Plan outlay for tourism increased by 50%

• Plan for new interest subsidy scheme

• Sinha stresses on power reforms

• 'Further liberalisation for FII investment seems likely'

• 'We hope the zero duty regime is deferred from 2003 to 2005'

• 'Steel must be given status of infrastructure industry '

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