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 FINANCEBetween the lines: Budget and capital gainsTransfer of shares and securities. Indexation. Bonus shares. Insurance gains. Buyback. Stock options. A N Shanbhag takes a close look at the Budget provisions for long term capital gains. 'It's up to the financial institutions to ensure they fund only viable projects' 'The economy is sliding down. The GDP growth is down, industrial growth is down. Unless we take some harsh decisions, we will go nowhere. I'm sure the finance minister will address the harsh issues in the Budget,' says former IDBI chairman S H Khan. Marketmen look forward to a not-so-tough Budget There was no control on government's expenditure. Its market borrowings soared from 9.2 per cent of GDP in 1997-98 to almost 54 per cent in the current year. This will exert an upward pressure on interest rates in the short run, say analysts. Crash a feature of Budget-time stock indices Sectors like information technology, cigarettes, food processing, computer hardware and solvent extraction emerged as prominent gainers in the last five years. Pre-Budget market bears sexy Sensex The filmi gyrations of India's premier stockmarket index will continue. Animal instincts are likely to show up as a bull-bear face-off looms over the bourses. Low interest tax regime, revival of capital markets are priority issues, FM tells FIs Indian financial institutions said small savings interest rates must be linked to the bank rate and deep discount bonds introduced. An offshore financial centre in Bombay must be created to attract foreign savings. |  |
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