Budget 2013: Sectors on radar
Automobile sector is one major sector which should be closely watched during the budget. There is likelihood that the government may hike excise duty on diesel cars (mainly SUV) which has seen sharp reactions from the industry. If government goes ahead with the hike in excise duty it will bring negative impact on the whole sector. The stocks of auto companies may suffer.
Stocks of companies which have dominant presence in diesel vehicles will be net sufferer. However, the companies which deal mostly with petrol cars will not be affected much. But some respite may be seen if government decides to reduce excise duty on electric and hybrid cars. Other demands include reducing excise duty on small cars, buses and increase in expenditure in JNRUM scheme for urban development. But these decisions are unlikely to be taken in considering the ballooning fiscal crisis.
Ajeet Kumar/Reema Sharma
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