Page 2 - Latest Updates on Union Budget 2019
Budget impact: Govt may use MF route to meet disinvestment target
FoF are subject to higher short-term capital gains tax, given these are not treated as equity-oriented schemes for taxation purpose
 "Budget impact: Govt may use MF route to meet disinvestment target")
Centre allocates Rs 75,000 cr for PM-KISAN to cover 145 million farmers
Nirmala Sitharaman has allocated Rs 12,000 crore less in the Budget for financial year 2019-20 towards the government's flagship income support scheme -- PM-Kisan-- that has been extended to cover all
 "Centre allocates Rs 75,000 cr for PM-KISAN to cover 145 million farmers")
Share buyback runs into tax roadblock, govt move may hurt repurchase
More than 70 companies, including software exporter Wipro Ltd, announced or completed Rs 354.6 billion of share buybacks in the first half of 2019
 "Share buyback runs into tax roadblock, govt move may hurt repurchase")
Derivatives strategies: 11,100-11,200 mark a key support for Nifty
The rupee has hardened however, with foreign portfolio investors selling equity but buying into rupee debt
 "Derivatives strategies: 11,100-11,200 mark a key support for Nifty")
Tax proposal in Budget 2019 hits Indian companies' year of share buybacks
More than 70 companies, including software exporter Wipro Ltd., announced or completed Rs 354.6 billion ($5.2 billion) of share buybacks in the first half of 2019
 "Tax proposal in Budget 2019 hits Indian companies' year of share buybacks")
Govt aims to cut stake in state-run cos to minimum required in FY20: Report
The government aims to raise Rs 400 billion from exchange-traded funds, the official told reporters. The official declined to be identified
 "Govt aims to cut stake in state-run cos to minimum required in FY20: Report")
Relaxed FPI norms in InvITs to help Reliance, Tata Power cut debt
The move will also help Embassy Office Park REIT
 "Relaxed FPI norms in InvITs to help Reliance, Tata Power cut debt")
Rs 70K-cr capital infusion in PSBs credit positive, to boost economy: S&P
S&P said it believe PSBs still require substantial reforms to improve risk management, service quality, efficiency, and diversity of product offerings
 "Rs 70K-cr capital infusion in PSBs credit positive, to boost economy: S&P")
Budget 2019: India won't become a superpower with these allocations
Only 3.4% of total federal spending was budgeted for education - down from 3.74% the previous year and from 4.3% when Modi took over in 2014
 "Budget 2019: India won't become a superpower with these allocations")
Top events of the day: FM to address RBI meet, UCC plea hearing, and more
From Nirmala Sitharaman addressing post-Budget RBI board meet to Delhi High Court plea hearing on Uniform Civil Code, here are top events of the day
 "Top events of the day: FM to address RBI meet, UCC plea hearing, and more")
Budget 2019: India redirects foreign aid to Indian Ocean countries
After Bhutan, which has been allocated Rs 2,802 crore this year, tiny Mauritius will be the second-largest recipient of Indian aid
 "Budget 2019: India redirects foreign aid to Indian Ocean countries")
Budget impact: Infosys, 8 others face 20% tax burden on share buyback
These companies, which are buying back shares, will see costs rising
 "Budget impact: Infosys, 8 others face 20% tax burden on share buyback")
Budget impact: Super-rich tax hits 1,000 executives in corporate India
Overall, 901 listed companies had 1,720 officials earning more than Rs 1 crore in FY18
 "Budget impact: Super-rich tax hits 1,000 executives in corporate India")
Budget impact: Sebi may give listed firms two years for 35% public holding
Regulator, however, concerned with implications of takeover code; to start public consultation soon
 "Budget impact: Sebi may give listed firms two years for 35% public holding")
New Budget, old outcome
Many parts of the speech had little to do with the Union Budget, says the author
 "New Budget, old outcome")
Accelerating growth
An export-led backward integration strategy for manufacturing and business services is essential for accelerating economic growth
 "Accelerating growth")
The right figures
The Budget should have used up-to-date data on revenue
 "The right figures")
Handle with care
Sovereign borrowing in foreign currency has inherent risk
 "Handle with care")
The good, the not-so-good and the tricky
In the aftermath of the Union Budget, the onus of igniting the animal spirit seems to be on the RBI. More rate cuts are on the cards
 "The good, the not-so-good and the tricky")
Budget 2019 in charts: Social sector spending rises, except on education
Education now occupies a smaller share in the overall social sector expenditure
 "Budget 2019 in charts: Social sector spending rises, except on education")
