Author Topic: Asit C Mehta BY AND LARGE A DISAPPOINT​ING BUDGET  (Read 2400 times)

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« on: February 28, 2013, 04:20:21 PM »
The FM's Budget was disappointing in the sense that some serious concerns were unaddressed
1)Firsly,going by the concerns he earlier expressed earlier on the state of the equity markets nothing was announced to  encourage retail investors to participate in Indian markets .The RGESS which could have been tweaked to be more effective was not done .
2)Deposits in banks have been showing a falling trend and major power restructuring  plans are ahead like re-structuring of SEB short -term loans where banks will play a vital role. No announcement to encourage retail savings in banks was done.
3) Farm loans at 4% has been extended to private banks which is negative. 
4)Food subsidy  has been growing at an alarming pace since 2006-7 when it was 24000 cr and for FY 14 it will be around 100000 cr .Govt finances could further get aggravated and all reforms on the oil & gas front will come to nought as it will be offset by this fast rising burden