Budget proposals: Hits & misses

Five key capital market announcements from the previous Budget

1. Proposal: Foreign investor investment ceiling on bourses raised from 5% to 15%

Impact: None of the exchanges have seen any of their foreign investors take advantage of the higher ceiling. Most have restricted their investments to 5%. However, the measure is expected to help the BSE, which will list on Friday, and bigger rival National Stock Exchange (NSE), which, too, is expected to go public soon 

2. Proposal: Tax sops for Real Estate Investment Trusts (Reits), Infrastructure Investment Trusts (InViTs) and International Financial Services Centre (IFSC)

Impact: The finance minister gave some tax incentives to jump-start these. Although all