Budget 2008--Neither reformist, nor populist: Sharekhan Budget Special dated February 28, 2007

[Sunil]

 

Budget Special [February 28, 2007] Please see the attachment for details Share khan www.sharekhan.com

Summary of Contents SHAREKHAN BUDGET SPECIAL Budget 2008: Neither reformist, nor populist Fiscal consolidation remained the priority of the finance minister (FM) in the Union Budget 2007-08 with the fiscal deficit brought down to 3.7% in FY2007 and 3.3% for FY2008 which are in line with the Fiscal Responsibility and Budget Management Act targets. The FM had to tackle a host of things ranging from rising inflation to budgetary impact on the ongoing and upcoming elections. The FM has been able to present a budget that is more or less on expected lines except for the hike in the dividend distribution tax. His key focus areas in this budget have been agriculture, education and irrigation projects. On the taxation front, he has kept things mostly steady and also announced some additional steps to control inflation in the short term.

Regards, The Sharekhan Research Team myac...@sharekhan.com

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