Union Budget 2018: FM Arun Jaitley Says To Study Tax Collections From LTCG Before Addressing STT
Suresh Prabhu On Budget 2018
Budget 2018: AskBQ
Budget 2018: FM's Press Briefing
- Widened Scope Of Cess To Fund Other Transportation Development
- GST Shortfall Is About Rs 50,000 Crore For FY18
- Confident Of FY19 Fiscal Deficit Target With Full-Yr GST Revenues
- Large Part Of LTCG Income Is Of Corporates, Indian & Foreign
- Many Exemptions Remain, Hence Rs 250 Cr Cap In Corp Tax Rate Cut
- Small Gap Arising From 1 Month Less Revenue In Indirect Taxes
- Budget Blends Fiscal Prudence With Needs Of The Economy
- See No Inflation Impact From MSP Move, Higher Cess
- Don't See Any Serious Impact On CPI From FY19 Budget
Budget Impact: Sensex, Nifty End Lower After Volatile Session; M&M, L&T Top Gainers
Indian stocks had a tumultuous day, swinging between gains and losses, as investors digest the government’s end to a tax break on equity investments to tap the market for a revenue boost alongside the nation’s budget speech.
The S&P BSE Sensex fell 0.16 percent or 58 points to 35,906 and the NSE Nifty 50 Index declined 0.1 percent or 11 points to 11,017. The India VIX Index -- a volatility measure -- slipped up to 13 percent, while the rupee weakened against the dollar.
Twelve out of 19 sector gauges compiled by BSE ended lower dragged down by the S&P BSE Consumer Durables Index's 1.78 percent drop. On the flipside, the S&P BSE Capital Goods Index was the top sectoral gainer, up 1.57 percent.
Airline stocks rose as the government proposed an expansion of airport capacity. Shares of healthcare and insurance companies surged after a proposal to provide national healthcare insurance covering 10 crore people.
UDAN To Connect 56 Unserved Airports, Jaitley Says
As many as 56 unserved airports and 31 unserved helipads will be connected under the government's regional air connectivity scheme, Finance Minister Arun Jaitley said.
He also said that the government has proposed expansion of airport capacity by more than five times to handle a billion trips a year under a new initiative. "In the last three years, the domestic air passenger traffic grew at 18 per cent per annum and our airline companies placed orders for more than 900 aircraft," he said.
The regional air connectivity scheme or UDAN (Ude Desh ka Aam Nagrik) launched last year seeks to connect unserved and under-served airports as well as make flying more affordable for the masses.
The finance minister said that UDAN "shall connect 56 unserved airports and 31 unserved helipads across the country", adding that operations have already started at 16 such airports.
With regard to expanding airport capacity, Jaitley said balance sheet of AAI would be leveraged to raise more resources for funding the expansion plans. State-owned Airport Authority of India (AAI) manages 124 airports.
“Infrastructure is the growth driver of the economy. Our country needs massive investments, estimated to be in excess of Rs 50 lakh crore, in infrastructure to increase growth of GDP, connect and integrate the nation with a network of roads, airports, railways, ports and inland waterways and to provide good quality services to our people,” Jaitley said.