New Delhi: Top stock exchanges NSE and BSE praised the government's Union Budget saying that it had focused on key issues that would help boost economic growth. "Tax benefits for infrastructure investment trusts and the pass through in taxation in REITS, so that only redemption is taxed and double taxation is avoided will contribute to fuelling growth in the economy," National Stock Exchange (NSE) MD & CEO Chitra Ramkrishna said.
"The government's intent to allow PSU banks to raise capital through higher public shareholding, by allowing the shares to be sold to retail investors will benefit both investors and the banks," she added. BSE MD & CEO Ashishkumar Chauhan said that government's announcement to bring down fiscal deficit to 3.6 per cent in 2015-16 and implementation of Goods and Services Tax (GST) within a time frame was the biggest positive from the budget.
"There have been many details but the 'deft touches' relate to SLR/CRR not being applicable to infrastructure loans, extension for power plants starting to produce before 2017 to have 10 year tax holiday, Rs 10,000 crore SME fund, deepening of currency and bond futures market, uniform KYC for financial markets, single demat account," he said.
