Atherstone Analysis of Budget 2008 proposals Sectors Proposal Impact Companies Education Increased thrust on education Positive Educomm, NIIT, Aptech, Everonn, Core projects Irrigation Increase in outlay for irrigation and water projects Positive Jain irrigation, IVRCL Banks Waiver on agriloans, coupled with budgetary support to banks Neutral to marginal positive All PSU banks Textiles Increased outlay for TUFS Positive All textile cos Automobile Decrase in excise duty on buses,small cars and two wheelers Positive Maruti, Hero honda, TATA motors, Ashok leyland, Bajaj Auto Pharmaceutical Excise duty reduced from 16% to 8% on all pharmaceutical goods manufactured Positive All pharma cos Healthcare Five year tax holiday for setting up hospitals Positive Fortis health care, Appollo hospitals Defence suppliers Increased allocation to defence Positive BEL, BEML, Astra Microwave Power sector Setting-up of 5 additional UMPPs Positive Power generation and equipment cos Steel Scrapping of custom duty on Steel melting scrap Positive Small steel manufacturers Formation of T&D fund Others CENVAT on all goods reduced from 16% to 14% is positive for the manufacturing sector as a whole Increase in STCG to 15% to reduce market volatility