| Presenting the Union Budget 2015-2016 in Parliament, the Hon’ble Finance Minister Arun Jaitley proposed following points for different asset classes. |
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| Impact on Commodity Market |
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- Merger of FMC with SEBI: This will boost the growth of commodity markets in long run by strengthening the regulatory environment.
- Gold Monetization Scheme: Gold Monetization Scheme proposed to reduce demand for overseas gold. Gold depositors will earn an interest on their metal account, while jewelers can obtain loans in it.
- Gold Sovereign Bonds: The government will develop a sovereign gold bond as an alternative to purchasing gold. The bonds will carry a fixed rate of interest and holders will be able to redeem them in cash on the face value of gold.
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| Impact on Currency Market |
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With the reform orientation, high growth expectation, low inflationary regime and fiscal consolidation roadmap in this Union Budget, Indian rupee is expected to get a boost with these major announcements.
- GST (Goods & Services tax ) will come in to effect as a state of art indirect tax system byApril 1, 2016. GST will help to normalize the multiple layers of taxation that currently exist.
- The implementation of GAAR has been postponed by 2 years and now it will be applicable from April 1, 2018 onwards.
- Corporate Tax reduced from 30% to 25%
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| Impact on Agri-Commodity Market |
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- With overall investments in Infrastructure set to rise to Rs 70000 Cr and focuse on need to build 1,00,000 km of roads, this will be beneficial in transportation of Agri products in an effective and efficient manner.
- Aim for farm credit of Rs 8.5 lakh crore in FY15-16 and allocation of Rs 25,000 cr for rural infrastructure to help improve crop productivity and production.
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