QUOTE BY
Mr. CJ GEORGE, MANAGING DIRECTOR, GEOJIT BNP PARIBAS, ON UNION BUDGET 2014-15
It’s a budget with Narendra Modi’s Stamp
The focus of the
budget is clearly to increase the GDP growth rate through higher savings and
consequently through higher financial investments. The concessions given by the
finance minister regarding increasing PPF savings limit, higher income tax
exemptions, exemption in interest on housing loans and increase in exemption
under Sec 80 C will certainly improve household savings. Liberal norms on GDRs
and ADRs would boost foreign investments, thereby further deepening the capital
markets.
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| Mr. CJ GEORGE, MANAGING DIRECTOR, GEOJIT BNP PARIBAS |
The decision to allow
banks to give long term loans to infrastructure projects without restrictions
of CRR / SLR is a welcome move. The decision to disinvest government’s stake in
public sector banks while retaining control, to Indian retail public is indeed
a positive move for the capital market.
The proposal to have
a single demat account for all financial assets including Insurance and common
KYC (Know Your Client) across the financial sector will certainly help
investors to open accounts with banks, DPs / brokers and insurance companies
with greater ease.
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