Budget 2012

The budget by Pranab today puts at rest all the anxieties. The market should now have free upward run on the back of increased worldwide liquidity and possible lowering of interest rates by RBI . The growth rate of 7.6% estimated for 12-13 may in fact be exceeded. The raising of duty on pure gold to 4% is good but there should be similar duty on all precious metals imported. This measure will divert a lot of domestic savings in to stock market as it should happen. There should have been some relief on subscribing to maiden issues by new companies. Risk capital is the real engine of progress.

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