Closing Bell: Bloodbath on D-Street as markets report 4th-biggest fall ever

The Union Budget 2020 came as a disappointment for the Indian stock markets. After gyrating over 450 points in the morning session, the 30-share BSE Sensex closed at 980 points, or 2.43 per cent, lower at 39,735.53 at 3:35 pm. Similarly, the 50-share NSE Nifty fell 318 pts or 2.66 per cent, to 11,643.80.

Disappointed markets mark their 4th biggest fall ever

The Indian equity markets, disappointed with the budget, marked their fourth worst performance ever and the worst on a budget day. The heavy sell-off also forced the BSE Sensex to close below the psychological 40,000-mark for the first time in the past three months.

Read More

Markets report 4th-biggest fall ever

The 30-share BSE Sensex was trading 980 points, or 2.43 per cent, lower at 39,735.53 at 3:35 pm. Similarly, the 50-share NSE Nifty fell 318 pts or 2.66 per cent, to 11,643.80.

Sensex crashes below 40,000 mark; Nifty slips to 250 points

Budget 2020: Govt proposes to impose a nominal health cess on imports of medical equipment

System for instant online allotment of PAN to be launched soon: FM

A system to be launched soon, for instant online allotment of PAN on the basis of Aadhaar, without the need for filling any application form.Aadhaar-based verification of taxpayers is being introduced: FM.

Pushing of taxation a welcome measure: Deloitte

Pushing of taxation trigger for stock options of startups to sale point in lieu of allotment which is there currently is a welcome measure. Perquisite taxation on ESOP of startups is deferred for a period of 5 years or the date of sale or leaving the company whichever is earlier. This will ease the cash crunch of recipient employees, says Saraswathi Kasturiranjan, Partner, Deloitte India.

Rs 40,000 crore revenue loss to the government with the new tax regime, says FM

100 different exemptions are provided under the current income tax act. I have removed 70 of them says FM

10% income tax deduction for individuals earning between 5-7.5 lakhs: FinMin

NRIs to be allowed to invest in certain categories of G-Sec: FinMin

NRIs to be allowed to invest in certain categories of G-Sec. New debt ETF to be launched consisting mostly of G-Secs, says FinMin.

Examine the need for existing criminal provisions in The Company Act: Ravi Jain

Relook and examine the need for existing criminal provisions in laws like The Company Act, and other laws for civil acts is a god move towards building trust with business communities and overseas investors:Ravi Jain, Partner, PwC India

Budget 2020: Govt to sell part of stake in LIC via IPO

Budgete 2020: Govt proposes to increase investment limit of FPIs in corporate bonds from 9% to 15%

Budget 2020: Govt to sell its stake in IDBI Bank to private investors & also amend Banking Regulation Act to strengthen co-op banks

30,757 crore rupees for Union Terrritory of Jammu & Kashmir 5,958 crore rupees for Union Terrritory of Ladakh: FM

FY21 Fiscal Deficit target pegged at 3.5% of GDP

Budget 2020: FM increases deposit insurance coverage to Rs 5 lakh from Rs 1 lakh

Budget 2020: Allocations by FM in Budget

Rs 3,100 cr: Culture Ministry

Rs 2,500 cr: Tourism

Rs 85,000 cr: Scheduled castes & OBCs

Rs 53,700 cr: Scheduled tribes

Rs 9,500 cr: Senior citizens & handicapped

Budget 2020: Key infra players like LT, KNR to benefit

“National Infra pipeline to remain in focus for the development of various projects. Key infra playerslike LT, KNR will benefit. FMCG Index rallies off its 100 DMA Emami, Hindustan Unilever, Dabur, Tata Global are set to rally further,” Vikas Jain, Senior Research Analyst, Reliance Securities

Budget 2020: India set for deficit blowout, high borrowing

India’s annual budget on Saturday is Prime Minister Narendra Modi’s second opportunity in seven months to refresh policy priorities to support an economy on a downward spiral.

Read More

Budget 2020: FM Sitharaman highlights 16 points to showcase govt’s focus on farmers

Stressing on the need for hand-holding of farm-based activities, Finance Minister Nirmala Sitharaman has said that the Centre and the state governments will have to cooperate with each other to improve the condition of the farmers.
“The government expects to double farmer income by 2022,” she said in her Budget speech on Saturday.
The Finance Minister highlighted 16 points to indicate the Modi government’s focus on farmers. Here are some of them:
- A total of 6.11 crore farmers insured under Fasal Bima Yojana
- Encourage states to take up model agricultural laws
- Comprehensive measures for 100 water stressed districts.
- PM Kusum scheme removes dependence on kerosene and encourages use of solar power
- Our govt will encourage balanced use of fertilisers. This is an important step because currently use of chemicalfertilisers is incentivesed.
- NABARD will take up an exercise of mapping and geo tagging agricultural warehouses, cold storage and other inventory storages
- A village storage scheme is proposed to be managed by SHEs. This will help farmers store more and reduce logistics costs. Women in the village will be responsible for managing this seamless storage mechanism.
- Krishi UDAAN scheme will be launched by Aviation Ministry.
- Horticulture sector with its current produce exceeds the production of food grains. We will now take it to, One Product One District.
- Financing of negotiable warehousing receipts will be integrating other e-services.
- Agricultural credit availability for 2021 has been set at Rs 15 lakh crore.

Budget 2020: 2,500 cr allocated for Tourism and Culture in FY21

Budget 2020 allocates Rs 22,000 crore to power and renewable energy sector

Farm markets need to be liberalised: FM

Farm markets need to be liberalised and the government is proposing to hand-holdfarmers, Finance Minister Nirmala Sitharaman said on Saturday.

Presenting the Budget for 2020-21, Sitharaman said the government is proposing a 16-point action plan to boost agriculture andfarmers' welfare.

Sitharaman said agricultural services need copious investments, and added that the government has insured 6.11 crorefarmersunder the Pradhan Mantri Fasal Bima Yojna.

"Everything that we do, speak through budget, everything that the government does is for the country," she said.

PTI

FMCG stock gain after Nirmala Sitharaman commits to doubling farmers' income by 2022

Sensex trades flat, Nifty goes back to 11,900; HUL, ITC, FMCS stocks top gainers

HUL, ITC stocks gain after govt's push in Agriculture sector

Sensex climbs 140 pts; Nifty nears 12,000

Check out Nirmala Sitharaman's Budget speech live here

Govt must align towards country's and PM's goals: ASSOCHAM

Our expectation from Budget 2020is broadly dependent onhow will govt policies align towards country's & PM's goal of $5 trillion economy. We're expecting some areas of guidance from the govt & policies that could help us to lead towards that: Vineet Agarwal, Senior Vice President, ASSOCHAM

Real estate sector should become an industry: Amit Gossain

Real estate sector should become an industry & I think they will do something about it. Real Estate is still struggling. There are liquidity crisis. It should be taken care of. Once real estate picks up it is good for employment too:Amit Gossain, MD, Kone Elevators

All hell will break loose if govt fails: Basant Maheshwari on Budget expectation

While the market is having high hopes from Union Budget 2020, market expert, Basant Maheshwari apprehends that it will be a disaster if the government fails to come up to the expectations.Maheshwari also pointed out some aspects of current government policies that he feels need modifications.

Read More

Garg pitches for large-scale expenditure reforms

Former finance secretary Subhash Chandra Garg on Friday said large-scale expenditure reforms are needed, to ensure that the taxes collected are spent productively.

Gargfurther said that "of the budgeted expenditure of Rs 27.86 lakh crore, a large part gets consumed in payment of interest and establishment expenditure".

"Large-scale reforms are called for in central expenditure programme. I hope to bring out an analysis of which central government expenditure programme should be scrapped or deeply restructured and streamlined in a separate piece,"Gargsaid in a blogpost.

The printed copies of the Union Budget 2020-21 have been brought to the Parliament

Tweaks in Long Term Capital gains likely: Sourced tell DH

Sources in Central Board of Direct Taxes tell DH that only tweaks in Long Term Capital Gains likely: plans to increase the duration from current 12 months to 24 months. "There is going to nothing much this time. FM Nirmala Sitharamanhas already given so much and there is no room now. Just LTCG probably," sources in CBDT tell DH.

Tech Mahindra share price declined over 3 percent in early trade on February 1 after the company posted a weak set of numbers for the quarter ended December 2019

Govt nets Rs 1.1 lakh cr from GST in January

Goods and services tax (GST) collection has crossed the Rs 1 lakh crore-mark for the third month in a row in January on the back of anti-evasion steps taken by tax officers.

This is second time since introduction of GST in July 2017 that the monthly revenues have crossed Rs 1.1 lakh crore.

The GST collection is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after a high-level meeting with senior tax officials earlier this month.

During the month, GST revenue from domestic transactions has shown a growth of 12 per cent over the revenue during January 2019, according to an official statement.

Never seen a liquidity crisis as bad as it is today: N Hiranandani

"I've never seen a liquidity crisis as bad as it is today. No matter how good the budget is if the oil in the mechanism of the economy is not working, the economy can't move. If the oil comes back & we get a boost in the budget then we will see recovery," said N Hiranandani, CMD, Hiranandani Group.

Sitharaman back with traditional 'bahi khata' for Budget 2020-21

Sensex plunges 279.01 points ahead of Union Budget 2020; Nifty drops 81.45 points

Negative cues from global markets amid concerns over China's coronavirus outbreak continued to weigh on investor sentiment here, traders said.

Read More

Top gainers in BSE Sensex at the opening hour of trade

Top gainers and losers at the opening hour of trade

Gainers
GAIL : 2.66%
HUL: 1.65%
BPCL: 1.-2%
Losers
TECHM: 2.96%
TATA STEEL: 2.28%
NTPC: 1.82%

Yields of 10-year G-secs flat at 6.599%. The yields had surged by three-fifth of the rupee on Friday, as the government confirmed fiscal slippages

In pre-open, BSE Sensex trading 1,202.92 points down at 39,520.57 points. Global factors and nervousness of Budget weighing heavy!

There is a lot of learn to be done in rural infra: Jayant Sinha on CNBC TV18

Jayant Sinha o CNBC TV 18: Findamentals of the Indian Economy remain strong. We need a consumption boostm need to put money in the hands of people. The government can put money in the hands of people by 'Kisan Samman Yojana.'

Emerging markets not used to current environment: Jahangir Aziz

"Emerging markets aren't used to the current environment. The markets have seen a rise in Fiscal Deficit. The government should stop taking money from Reserve Bank of India," JP Morgan's Jahangir Aziz told CNBC Tv18.

Mark Mobius believes some fiscal slippage in fiscal deficit would be acceptable to push growth.

More recap plans for PSBs?

The government is likely to undertake additional capital infusion into public sector lenders to enable these banks to adhere to their capital adequacy norms (capital adequacy ratio of 11.5% from March 2020 as per BASEL III regulations) and facilitate lending. Assuming the growth in bank credit during FY20-25 to be in the range of 13-14% per annum, the total outstanding bank credit as of 2024-25 would be around Rs 200 lakh crore.

Although the share of PSBs in bank credit has been declining (from 71% in March 2016 to 57% in September 2019), there is an expectation that PSBs will account for around 60% of incremental bank credit during this period. The total additional capital required over the next five years would be around Rs 7 lakh crore. This additional capital will have to be sourced from retained profits of the bank (including recovery), mobilization of capital from the markets and infusion of funds via the government. The Budget may consider this requirement over the next five years.

How are markets poised for the Union Budget 2020?

Indian equity markets are likely to witness a bull run, in case the government decides to go ahead with the rationalization of the tax slabs.

The logic behind it is: The increased tax-free slabs means more disposable income for consumers, which is likely to boost consumption. An increased consumption means better earnings per share of the listed companies, which would make the investors upbeat about the scrips.

Read More

All eyes on FM Nirmala Sitharaman's second budget to give boost to economy

All eyes are on Finance Minister Nirmala Sitharaman, who will table her second budget in Parliament at 11 am. Since the Budget comes at a time when the Indian economy is facing a slowdown, stakeholders are expecting economy-boosting measures in this budget. Stay tuned for live updates.

Read More

Stocks to watch out for

Here are some stock to watch out for ahead of Budget 2020:

Tata Steel, JSW, JSPL, Hindalco, Bharti Airtel

Good morning readers, follow Deccan Herald for latest updates on the stock markets ahead of Union Budget 2020.

Economic Survey 2020 bets on 'invisible hand' to help India achieve $5 trillion economy by 2025

A decade-low growth forecast for India in 2019-20 notwithstanding, the Economic Survey Friday said the economic slowdown had troughed but asked the government to take up bold reforms, cut subsidies, including Rs 1.84 lakh crore on food, and, go in for pro-business policies, honouring the wealth creators and markets, whose “invisible hand” could help India become a $5 trillion economy.

Read More

New era for divided Britain as it leaves EU

Britain on Friday ended almost half a century of European Union membership, making a historic exit after years of bitter arguments to chart its own uncertain path in the world.

Read More

Sensex dropped 190 pts; Nifty ended below 12K on Friday

Market benchmark Sensex fell 190 points and the Nifty slumped below the 12,000 level on Friday after the Economic Survey suggested relaxing fiscal deficit target to revive growth.

Witnessing a sharp decline at the fag end of the session, the 30-share BSE Sensex settled 190.33 points, or 0.47 per cent, lower at 40,723.49. It hit an intra-day low of 40,671.01 and a high of 41,154.49.

Read More