THE BREAKING NEWS!

Sentiment-boosting important announcements made by the finance minister today evening will have quite a positive impact on the economy and on financial markets.

We expect Indian equity markets to jump up by 2%-3% on Monday!

Happy investing!

Sincere Syndication

www.sinceresyndication.com

SENTIMENT BOOSTING ANNOUNCEMENTS – AUG 23, 2019

AUTOMOBILE SECTOR UPDATE:

1.  Any vehicles acquired from now till 31 March 2020 will get additional 15% vehicles, making depreciation to 30% depreciation; This will have a favorable impact on commercial vehicles sector

2.  BS-IV vehicles purchased till March 2020 will remain in operation for the entire period of registration.

3.  Revision of registration has been deferred to 2020. This was a big time heart burn;

4.  Both Electric Vehicle and Internal Combos vehicles will continue to exist.

5.  In order to boost demand, Government will lift the ban on purchase of new vehicles by Government Department. There was apparently a ban within the Government departments to buy / replace their vehicles. FM says “Charity begins at home within the Government”.

6.  Government will introduce a scrap page policy sooner. This will ensure that unworthy vehicles are completely scrapped and not made to run again. These scrap coupons will be used for buying new vehicles.

FINANCIAL MARKETS UPDATE:

·   Enhanced Surcharge on super rich FPIs has been withdrawn. It was introduced in budget 2019

·   Reliefs from enhanced surcharge from Long & Short term gain

The above measures will bring about a sense of confidence to foreign investors

RELIEF PACKAGE FOR ECONOMY AT LARGE:

*Govt. to release upfront INR 70,000 crores (70 Billion) capital to Public Sector Bank

*Announces measures for easier access of credit to MSMEs, which are the backbone of our economy.