Indian shares falter as budget disappoints
MUMBAI (Reuters) - Indian shares fell on Thursday to three-month lows as state-run lenders declined after the government announced a higher-than-expected gross market borrowing target as part of its 2013/14 budget, raising concerns about liquidity in the banking system.
A government proposal to raise taxes on certain individuals and companies also raised concerns, while worries about double tax avoidance agreements also hit shares after the finance ministry said tax residency certificates were no longer sufficient to claim benefits
State Bank of India (SBI.NS) provisionally fell 5.08 percent.
(Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Canada PM vows crackdown after capital shocked by fatal attacks |
- Man arrested after jumping White House fence, causing lockdown
- Probe: Athletes took fake classes at University of North Carolina
- U.S.-led air strikes killed 521 fighters, 32 civilians in Syria: monitor