Wed, Feb 27, 2013 at 12:12
INDIA-BUDGET-ECONOMIC-SURVEY:Economic Survey: 2013/14 GDP growth seen at 6.1-6.7 percent
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Economic Survey: 2013/14 GDP growth seen at 6.1-6.7 percent
INDIA-BUDGET-ECONOMIC-SURVEY:Economic Survey: 2013/14 GDP growth seen at 6.1-6.7 percent
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Economic Survey: 2013/14 GDP growth seen at 6.1-6.7 percent
INDIA-BUDGET-ECONOMIC-SURVEY:Economic Survey: 2013/14 GDP growth seen at 6.1-6.7 percent
NEW DELHI (Reuters) - The finance ministry delivered a report on the state of the economy on Wednesday, a day before Finance Minister P. Chidambaram unveils what is expected to be the most austere budget in years.
The annual report was prepared by Raghuram Rajan, the former chief economist to the International Monetary Fund (IMF) who became the top adviser in the finance ministry last year.
Following are highlights of the report:
* GDP growth seen at 6.1-6.7 pct in 2013/14
* Headline inflation may decline to 6.2-6.6 pct by March
(Compiled by Matthias Williams and Anurag Kotoky)
highlights
- No hike in passenger fees by Railways
- Railways propose hike in Reservation fee, Tatkal charge
- Freight rates to go up by 5.8%
- Railways to launch 67 new express trains, 26 new passenger trains
flashes
- Further steps needed to diversify software exports
- Tight RBI policy led to sharper-than-expected slowdown
- Tax mop-up slippage can be lowered with additional afforts
- FY13 impact of policy easing may not lead to inflation surge.
InterpretationS
- Railway minister has done a commendable job in meeting competing demands of improving services and controlling expenditure: PM
- It is a reformist and forward- looking Budget: PM
- If you look at the overall Budget, it was relatively muted and there was nothing exciting and no steps were taken, which would make the market happy: ICICI Direct
- There is no major capex from the civil construction on the freight corridor, though some investments are coming on the metro side: KEC International
SECTOR IMPACT
Select Sector to see impact
- Cement - Major
- Infrastructure - General
- Mining/Minerals
EXPECTATIONS
expectation on: People
Saurabh Mukherjea
Head of Equities | Ambit Capital
expectation on: Markets
Ridham Desai
MD and Head Of India Research | Morgan Stanley
expectation on: Markets
Ashok Wadhwa
Group CEO | Ambit Holdings
expectation on: Business
Laurent Dhaeyer
MD | Ogone Asia and EBS
expectation on: Markets
Rajesh Iyer
Head Investments & Family Office | Kotak Wealth Management
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