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MIDF Research: Expect modest market reaction to Budget 2014
by Cals Sat 26 Oct 2013, 20:43
| MIDF Research: Expect modest market reaction to Budget 2014 |
| Business & Markets 2013 |
| Written by MIDF Research |
| Saturday, 26 October 2013 10:57 |
True to its commitment to fiscal consolidation, in Budget 2014, the government decided to introduce GST at 6% rate beginning 1 April 2015. Concomitantly, the sales and service tax (SST) will be abolished.
Overall, expect modest market reaction to Budget 2014. In our opinion, while revolutionary, the budget provides no material surprises that may spur further trading interest in the equity market. Having said that, we expect the market undertone to continue buoyant as the liquidity situation is expected to remain accommodative at least in the near term.
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