Pre-Budget Expectations by Mr. Sumit Chanda, Founder and CEO. Jarvis Invest
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Please find below the pre-budget expectations of Mr. Sumit Chanda, Founder and CEO, Jarvis Invest
“We expect the budget to be favourable for the retail investors. Hopefully some positive steps should be taken on Capital Gains and income classification which will be a boon for the retail investors and traders. We also hope that the FM incentivizes Fintech start-ups especially those using AI. We can possibly see positive news for manufacturing, Renewable Energy, Healthcare, EVs.
Salaried workers are the main source of the country’s tax revenue and any changes in their taxation will have a significant impact on the economic recovery. There has been murmurs about the tax exemption limit being increased to 5 lakhs from the existing 2.5 lakhs. I would certainly look forward to it. It would mean higher disposable income which can lead to higher consumption and investments. This can definitely boost the economy.
We, as a country, have a very good opportunity to become the manufacturing hub to the world. If the manufacturing sector can be incentivized in some form, this dream can be realized. The central government can certainly nudge the state governments to implement the four labor codes. A reduction in the corporate tax will go a long way in making both the manufacturing and the service sectors grow.
Any positive news on these fronts will be a big boost to the markets.”
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