Comment on Union Budget 2014-15 : Mr Subhrakant Panda, Managing Director, Indian Metals and Ferro Alloys Ltd

Mr Subhrakant Panda, Managing Director, Indian Metals and Ferro Alloys Ltd (IMFA)

"The Finance Minister's maiden budget is noteworthy for the statement of intent to revive manufacturing and infrastructure sectors while maintaining fiscal discipline. The clarity of thought in this regard and the statement that manufacturing revival is essential for job creation is heartening.

I think Mr Jaitley has presented a realistic budget under difficult circumstances and put in place the basic building blocks for economic recovery along with fiscal consolidation. The support provided to various sectors and, particularly, the threshold for investment allowance being brought down to Rs 25 crores is welcome; equally, linking MGNERGA to rural infrastructure and asset creation is a significant step. While the emphasis on streamlining tax administration along with providing a stable tax regime will boost confidence and attract investment, increase in personal income tax exemption and enhancement of investment limit will provide a boost.

The government's mission of housing for everyone by 2022 and setting up 100 smart cities are bold moves which will go a long way in changing the country's landscape. These will not only help sectors like cement, steel etc but will also increase the employment opportunities. As far as the ferro alloys industry is specifically concerned, steps taken to encourage key sectors which in turn will boost growth will have a positive impact."

Shares of INDIAN METALS & FERRO ALLOYS LTD. was last trading in BSE at Rs.401 as compared to the previous close of Rs. 401. The total number of shares traded during the day was 3097 in over 302 trades.

The stock hit an intraday high of Rs. 414.4 and intraday low of 389.65. The net turnover during the day was Rs. 1256878.

Source : Equity Bulls

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