Union Budget likely to have marginal impact on India Inc
India Inc had its share of disappointments when the FM left the corporate tax rate unaltered. But the removal of FBT provides something to cheer about and reduces compliance hassles.
By ET Bureau |
The Union Budget for 2009-10 is likely to have only a marginal impact on India Inc. Though there are no direct incentives or sector-specific stimulus packages, as many CEOs would have liked, there are a number of positives that the stock market seems to have ignored.
The bear hammering saw the Sensex post its biggest Budget-day fall, leaving investors and promoters poorer by Rs 2.82 lakh crore. While the bulls are sulking and fuming at the finance minister, there���s an equally large section that must have thanked him for an opportunity to re-enter the market at lower levels.
Large sections of retail investors were startled by the extent and the speed of the recent rally and had missed the bus. This is their golden chance to pick up their favourite stocks at a bargain, as India���s long-term growth trajectory remains intact.
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