Sunil Munjal feels the government may line up its policy intent in the Union Budget tomorrow, sees GST implementation by 2015.
Auto, tourism, house construction, garments and textiles are some of the industries which have a potential to become global leaders.
Sunil Munjal
Joint MD
Hero Moto
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Munjal feels the government may line up its policy intent in the Union Budget and expects material announcements on GST. He expects it to be implemented as early as 2015.
Munjal thinks economic growth and job creation would be the centre point for the Budget. He feels the government should try to focus on specific 4-5 industries which have a multiplier effect. "Auto, tourism, house construction, garments and textiles are some of the industries which have a potential to become global leaders," he said.
He expects announcements on allowance for new investments and a modern tax rate.
Below is the transcript of Sunil Munjal's interview with Latha Venkatesh and Sonia Shenoy of CNBC-TV18.
Sonia: The industry as a whole has a very long wishlist in terms of tax exemptions, etc but are you getting a sense that this time around because fiscal prudence is top of mind all those wishes may just go out of the window?
A: I think the Budget this time will focus on two different things. One it will focus on improving the fiscal situation currently, so, there will be some tough things I expect. However, I also think because it is the first Budget of this government they will focus on giving a long-term vision of the government through this Budget as well. So, I do expect that we will see some focus on long-term issues; not just the current, not just the accounting of the government for the next few months.
Latha: Do you expect a very clear time-table on goods and services tax (GST) at least because now this government seems to be in a better position to negotiate with states?
A: I think GST is one thing we are almost certain to get a time-table on. We are all hoping it will be sooner rather than later. The expectation is that certainly by the April 1 next year we should see a GST implementation. It is possible to do it even earlier but there is a run up, there is a preparation required which takes a few months. So, I would expect April 1 would be a good date for the GST.
I am also hoping, we will see the government focus on five or six industries which have a big multiplier effect to try and boost growth in those industries. Overall, I think there will be focus on growth of the economy and job creation as the centre point for this Budget.
Hero Motocorp stock price
On July 09, 2014, at 11:11 hrs Hero Motocorp was quoting at Rs 2536.05, down Rs 38.35, or 1.49 percent. The 52-week high of the share was Rs 2775.05 and the 52-week low was Rs 1637.15.
The company's trailing 12-month (TTM) EPS was at Rs 105.62 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 24.01. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 9.04.
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