Budget 2015-16: SIP in Index Funds should be made eligible investments under section 80CC

Expectation from General Budget Budget 2015-16

· Simplification of rules for Investments by non-resident Indian (NRI) from US in Indian Mutual Fund schemes

· Make Indian equity market accessible to overseas market participants like in other Asian countries.

· Separate regulator for Mutual fund to focus on the growth and penetration of Mutual Fund.

· Systematic Investment Plan (SIP) in equity exchange-traded fund  (ETF) and Index related funds should be made eligible investments under section 80 CC and the exclusive limit should be given up to Rs. 50000

· Some allowance should be given to  'Asset Management Companies (AMCs) for opening offices in tier2 and tier 3 cities to promote MF business in these areas.

 

Photo ET Advt

· Focus on Reforms like road map for implementing Goods and Service Tax (GST) which will give higher revenue to both centre and state.

· Subsidies will reduce by will reduce due to nil under recovery by Oil companies in respect of petrol and diesel

· Additional revenue of Rs. 50,000 cr by way of increase excise duty on petrol and diesel done during current year.

· Custom duty on crude oil of 5% may be restored back in the current budget which will give addition revenue.

· Access on direct tax and services tax may be levied to generate revenue for Clean India Campaign.

· Some measures towards consolidation of Banks

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