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Below Quote on Budget 2026 By Ms. Amisha Vora, Chairperson & Managing Director of PL Capital – Prabhudas Lilladher

“The budget is very, very positive and captures many key announcements. The disinvestment target has been raised sharply to ?80,000 crore versus ?30,000 crore earlier. Buyback tax has been reduced and the long-pending MAT credit issue has been addressed. The increase in PMS investment limits for NRIs to 24% from 5–10% is a strong positive for capital flows. Most importantly, government capex is up 24%, which is huge, and defence spending has been increased by 21%. On top of that, tax exemptions for foreign investments in data centres till 2047 provide long-term visibility. The announcements around ease of doing business in Income Tax and Customs should also go a long way in improving compliance and reducing friction for businesses. The only real negative in the Budget is the increase in STT on derivatives, and that’s what the market is reacting to in the short term. Overall, once the STT headline settles, the Budget should be seen as growth supportive. We would recommend a ‘Buy’.”

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