Current Affairs For Bank, IBPS Exams - 14 July, 2014
Current Affairs For Bank, IBPS Exams
14 July, 2014
BSE forms 11-member advisory group on REITs
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The Bombay Stock Exchange (BSE) has launched an advisory group on REITs (real estate investment trusts), which are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.
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REITs can bring in USD 10 billion of foreign funds into the sector by the end of this fiscal.
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REITs were originally announced in FY 2014 Budget, but at that time the government did not offer any tax sops to attract investors. But Arun Jaitley had announced tax incentives like exemption from long-term capital gains tax to popularise REITs.
Budget has no impact on India sovereign ratings: Standard & Poor’s
- S&P said Indian budget will not have ay impact on it's sovereign rating. With growth oriented budget India hoped for improvement in rating.
- Good rating leads to lower interest rates on loans from outside the country.
- S&P is the only one of the three major credit agencies to have a 'negative' outlook on India.
