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Below is Post Budget Comment By Sunil Damania, Chief Investment Officer, MarketsMojo

This is a terrific budget. I believe that the most important aspect of the budget is that it is preparing India for the future. Whether it is through participation, limiting carbon footprint, or ensuring the rural economy has the money, and plans to reduce pressure on urban infrastructure. It's also a step in the right path toward making India Atmanirbhar and easing of doing business.  

The government also recognized that there was a lot of strain on the common man as inflation ate into individual savings. The change in the tax system in the personal income tax is a step in the right way to put more money in the hands of taxpayers, which will encourage growth. And if that happens, private capex may return.  

What is commendable, and I believe the biggest highlight of this budget, is that while increasing capital expenditure to Rs. 10 lac crores, or 3.3% of GDP, the government has managed to keep the fiscal deficit at 5.9% for FY2024. Overall, the budget is excellent. The absence of negative news is a tremendous source of optimism. And the stock market has been ecstatic about this budget.

However, there was one concern about capital gains. And that hasn't even been mentioned. We wish that every time the market becomes anxious about the budget, the government would use it as an opportunity to clarify its position on how it intends to adjust capital gains on equity.

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