Pre Budget Expectations : The government will focus on maintaining the budget deficit Says Mr. Raghvendra Nath, Ladderup Wealth Management
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Below Perspective On Pre Budget Expectations By Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited
Given that this is the last full year budget before election, we do not anticipate any significant changes from the government's prior policy. Therefore, the government will focus on maintaining the budget deficit and may introduce new programs related to social welfare & infrastructure. We hope that the government does not tinker with the capital gain tax on equity or fixed income in an effort to increase revenues. The markets should accept the budget rather well if they retain the status quo and keep both the personal and corporate income tax rates at their current levels. We simply hope that the 6.4% fiscal deficit target that the government established is met and that it is further reduced for the upcoming fiscal to attain the aim of less than 4.5% of the GDP by 2025–2026 on the strength of brisk tax revenues that are tracking far ahead of budget projections. During FY 2022–2023, the government announced plans to borrow Rs. 14.21 lakh crore. Any further expansion of the borrowing program is anticipated to have a negative effect on the bond markets.
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