Some Tit Bits:

The Indian economy stabilised in the first quarter of 2009-10 itself, when it clocked a GDP growth of 6.1 per cent, as against 5.8 per cent in the fourth quarter of the preceding year.

It registered a strong rebound in the second quarter, when the growth rate rose to 7.9 per cent. Now the Advance Estimates are placing the likely growth for 2009-10 at 7.2 per cent. However, the final figure may well turn out to be higher when the third and fourth quarter GDP estimates for 2009-10 become available.

The Budget FY11, provisions are especially good for the banking sector due to its focus on financial inclusion, infrastructure and capital infusion for public sector banks. The extension of repayment of farm loans will help banks in the short term and many such loans that had already been provisioned by banks will now get a new lease of life. The budget shows that the government is serious about derisking banks' asset liability mismatch.

Moreover, Refex Refrigerants Ltd, Energy Development Company Ltd, Suzlon Ltd, etc. could get a positive rub-off effect due to budget provisions for the renewal energy sector. For FY11, renewable energy plan outlay is up 61% at Rs.10 billion. The government proposes to set up Solar and Small hydro power units. It is also to set up national clean Energy Fund.

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