India's savings into equities to exceed $50 bn by 2020: study
Press Trust of India / Mumbai Sep 07, 2010, 22:26 IST
India's savings in shares and debentures are expected to exceed $50 billion by 2020 from $13 billion in 2008, a research study said.
"The country's savings in equities are expected to touch $25 billion in 2015 and $54 billion in 2020 from a mere $13 billion in 2008," Enam Securities Institutional Equity Research Managing Director Nandan Chakraborty said during a media interaction on its "India 2015" report.
The pool of financial savings is also expected to double to $273 billion in 2015 and $539 billion in 2020, Chakraborty said, adding that the GDP is expected to grow to $2.9 trillion in 2015 and $5.8 trillion in 2020.
Following the implementation of Direct Taxes Code (DTC) and GST, the government's revenue is expected to go up by $87 billion by 2015. DTC and GST are expected to add $35 billion and removal of other exemptions to add $29 billion to the government's revenue kitty, Chakraborty said.
The non-tax revenue of the government is estimated at $23 billion. The divestment in FY11 will generate $9 billion and another $3 billion would be generated through divestment in subsequent years. The coal auctions would be potentially much larger than $20 billion.
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