Impact on Bank,Finance&Realty sector-Budget 16.

images-2BANK SECTOR:  The union budget proposed Niti Ayog to identify PSU bank assets for sale. Code of Procedure will soon be tabled for specialized mechanism to deal with bankruptcy situation in banks and financial institutions. Total outlay for bank recapitalization proposed to be at Rs 25,000 crore in FY2017.Bank stocks are rising, SBI up by 5%, BoB up by 3.5 %, PNB up by 3.38 %, ICICI Bank up by 2.35 %, HDFC Bank up by 0.20 %. The Nifty PSU Bank index is up by 3%.

Watch out: Bank of India, Union Bank, Andhra Bank, Canara Bank among others.

FINANCE SECTOR: Proposed deduction for NBFCs in provision for bad debts.

Stocks to watch for: DHFL, LIC Housing Finance, Bajaj Finance among others.

REALTY SECTOR: Rent paid deductions increased up to Rs 60,000 from Rs 24,000 per annum.
Advantage: Indirect benefit for realty sector

Leave a Reply

Your email address will not be published. Required fields are marked *