Budget 2012: Segments Expected to Get a Hike
By siliconindia   |   Thursday, 16 February 2012, 00:46 IST
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Security Transaction Tax
Security Transaction Tax Fiscal consolidation and removal of securities transaction tax (STT) on stock trades crowns the list of demands for the forthcoming Union Budget. More asset sales by the government to control the nation's widening fiscal deficit are what the investors expect. Rashesh Shah, Chairman and CEO, Edelweiss Financial Services, said, "The key challenges facing the government while crafting this year's budget would be to choose between controlling the fiscal deficit and providing momentum to growth." A top government official said that India's fiscal deficit is expected to surpass the target of 4.6 percent of the gross domestic product (GDP) for FY12 by 1 percent to around 5.6 percent. The government's poor fiscal management has been a chief apprehension for both foreign and local investors who are concerned about the prospects for an economy which had grown at over 8 percent between 2004 and 2009.

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