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The provision for FY14 at rs 650 bn too looks realistic

PSU banks on Monday continued its strong run from the previous week as investors continued to bet on the government’s bank recap programme of Rs 2.11 lakh crore. The Nifty PSU bank index was up over 2 percent in the first half hour of trade. As a result of this rally, frontline indices also rose to fresh highs.

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Fake Handbags Non plan expenditure shows a sedate growth of 10.8%: Defence expenditure is set to rise by 14% in FY14 to Rs 2036 bn. The total provision for subsidies is pegged at 2311 bn, a drop of 10.3% versus Replica Designer Handbags FY13. This is mainly driven by a 32.9% plunge in fuel subsidies. Subsidy provisioning in FY13 at Rs 969 bn looks more realistic assuming an under recovery of about Rs 1600 bn and 60% share being borne by the government. The provision for FY14 at rs 650 bn too looks realistic especially in the context of phased increase in diesel prices every month by Rs 0.50/litre to eventually bridge the current under recovery of Rs 10/litre, permission to oil marketing companies to sell bulk diesel at market prices and capping of subsidised cylinders to 9 per household per year. Food subsidy has been pegged at Rs 900 bn with an assumption of Rs 100 bn increase vis vis last year due to implementation of Food Security Act. Fake Handbags

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