The Indian economy had decelerated sharply post the NBFC crisis with GDP growth coming at 4.5% for Q2FY20 By Mr. Jyoti Roy
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Below is the Views On Budget Expectations Quotes by Mr. Jyoti Roy, DVP Equity Reearch Analyst, Angel Broking
`The Indian economy had decelerated sharply post the NBFC crisis with GDP growth coming at 4.5% for Q2FY20. The upcoming budget therefore assumes greater importance given that India is coming out the worst slowdown since 2013 when India had a twin balance sheet problem.
While the Government has already taken steps to revive the economy we believe that they will use this budget as a platform to announce further measures which will help growth to get back on track. While the corporate tax cut is expected to spur investments over the medium term, markets are expecting the Government to cut personal tax rates which will help consumption demand. We also expect the Government to increase allocation to the Infrastructure and affordable housing sectors given their strong multiplier effect on the economy.
In the budget we also expect the Government to increase import duties on specific goods in order to encourage domestic manufacturing and also try and address the liquidity issues surrounding the NBFC and the housing sector`
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