New Delhi: Corporate India is keeping its fingers crossed, hoping for Minimum Alternate Tax (MAT) to be abolished or at least reduced to five per cent.
Here are the major expectations of the various industry sectors:
Textile industry hit by a rising rupee expects the textile up-gradation fund increased to Rs 1,700 crore.
The Information Technology sector hope its tax holiday is extended beyond 2009.
Cement, which had been hit hard in the last Budget, is asking for a cut in Value Added Tax rates to 4 per cent.
The tobacco industry is simply hoping for a tax hike that is not too steep but they fear a new cess will be imposed like in most years.
But will investors gain today? The market isn’t too excited and Budget is expected to be a non event.
According to CNBC-TV18 analysis, no direction is expected from the market when trade opens. The market is expected to be fixed in a range depending on the US market.
Relief is expected in the market after the session.
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