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Finance Minister P Chidambaram introduced the Union Budget 2013-14 on February 28.

Below is the list of sectors which got affected because of the Budget 2013-14.

AUTOS

Expectations

Levy of additional duty of Rs 80,000


Extension of Countervailing duty at 6%, customs duty 0% Maintain customs duty of 75% on luxury vehicles Proposals Excise duty on SUVs raised from 27% to 30%. Customs duty on luxury vehicles hiked to 100%. Higher allocation to JNNURM leading to additional demand of 10,000 buses augurs well for all commercial vehicle manufacturers. Impact Negative for M&M and Tata Motors. Higher allocation to JNNURM positive for all commercial vehicle manufacturers.

FMCG

Expectations

Increase in excise duty on cigarettes.


Expect the general excise duty rate to be maintained at 12%. Clarity on implementation and timelines of GST will be positive. Proposals Specific Excise Duty on cigarettes increased by 18%. Tax on royalty increased from 10% to 25%. Impact

Cigarette companies will pass on the increase to the customers. This could marginally impact volume growth.

OIL and GAS

Expectations

NELP blocks will be cleared.


Shale gas exploration policy may be formulated. New oil and gas exploration policy will be formulated on revenue sharing.

Proposals
Import duty on crude oil might be re-imposed. Cess on crude oil production might be increased from current levels of Rs 4,500/MT.

Removal of 5% customs duty on LNG and natural gas. Impact


Positive for the upstream companies like Reliance, ONGC.

PHARMA

Expectations

Exempt all life-saving medicines from proposed GST.


Increase the list of life-saving drugs to 5% concessional duty New oil and gas exploration policy will be formulated on revenue sharing. Proposals Royalty/technical fees paid to NRIs increased to 25%. To allot Rs 37333 crore for healthcare, family welfare in FY14. Impact

Higher allocation is positive for the sector. Increase in royalty fees marginally negative for Ranbaxy.

BANKS/FINANCIALS

Expectations

Expects capital infusion of around Rs 20,000 crore.


Easing of investment norms, deepening of bond markets.

Reduction in STT. Proposals

Extension of 4% farm loans to private banks.


Additional deduction of Rs 1 lakh interest on housing loans of up to Rs25 lakh. Reduction in STT. Introduction of commodity transaction tax on nonagri contracts. Impact Negative for private sector banks. Positive for PSU banks. Introduction of CTT negative for broking companies.

INFRA

Expectations

Higher allocation to infrastructure spending.


Elimination of hurdles for roads and highways.

Higher allocation to infrastructure tax free bonds. Proposals

Constitution of a regulatory authority for road sector.


3000 km of road projects to be awarded in first 6 months of FY14.

IDFs will be encouraged to provide long-term low-cost debt. Impact Positive for the sector. It will boost infrastructure development in roads, ports, housing and railways.

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