Expectations

- Expect a tough but balanced Budget.

- Expect a further increase on the corporate and personal income tax fronts

- Meager scope for protection of non-competitive sectors and corporate.

- We expect the GDP growth for FY2002 to be at 6.0%.

- A surprise could be in the form of

• Fresh cost control reforms on expenditure and
  Some positive initiatives/ decisions on disinvestment
• Some bold initiatives for attracting investments in Infrastructure.

-Overall, it could be another Budget strong on content than commitment; and, play safe, is our advice.

Contributed by:

Gurunath Mudlapur : Information Technology - gurunath@kslindia.com
C Srihari : Pharmaceuticals - sri_pharma@kslindia.com
Nikhil Phutane : Telecom, Engineering and Power - nikhil@kslindia.com
Rajesh Kothari : FMCG - rkothari@kslindia.com
Nilay Dani : Media & Entertainment - nilay@kslindia.com

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