Budget 2014

10Jul

Budget 2014 FOCUS : India takes step towards allowing foreign investment in e-commerce

Jaitley in his budget speech said manufacturing units will be allowed to sell products through retail channels, including e-commerce platforms, without any additional approvals. India allows 100 percent foreign investment in manufacturing barring a few areas such as defence.

It proposed allowing foreign retailers, who manufacture products in the country, to sell via e-commerce platforms, a step towards liberalising foreign investment in the country’s $13 billion e-commerce sector.

10Jul

Budget 2014 FOCUS : Real estate shares gain on budget plan for REITs

Reuters Market Eye – Shares of real estate developers gain on finance minister Arun Jaitley’s plan to provide incentives for the establishment of real estate investment trusts.

DLF Ltd (DLF.NS) gains 9 percent, Prestige Estates Projects (PREG.NS) rises 6.3 percent, Indiabulls Real Estate (INRL.NS) is up 5 percent while Housing Development and Infrastructure Ltd (HDIL.NS) advances 5.4 percent.

10Jul

Budget 2014 FOCUS : Govt raises military spending, eases foreign investment limit in arms industry

India boosted defence spending by 12 percent in 2014-15 over the previous year in the budget. Finance Minister Arun Jaitley set the military budget at 2.29 trillion Indian rupees ($38.35 billion) for 2014-15, 50 billion rupees more than what the previous government agreed in an interim budget earlier this year. It further opened the domestic weapons industry to foreign investment to help rebuild the military and narrow the gap with China.India has been the world’s top arms buyer for the last three years, trying to replace an ageing Soviet-era military with modern weapons as a deterrent to a rising China, with which it fought a war more than half a century ago.

10Jul

Budget 2014 TAX FOCUS : FM Rationalises Customs Duties

Basic customs duty on ships imported for breaking up has been rationalised to 2.5 percent.
Basic customs duty on semi-processed, processed diamonds is being rationalised at 2.5 percent.
To encourage manufacturing and export of garments, the Finance Minister has given concession on import of trimmings and other articles.

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