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Below the Quote on Budget Reactions by Dr. Mayank Joshipura, Ph.D.Vice Dean, Research & Ph.D, Professor-Finance, School of Business Management, NMIMS, Mumbai

The Modi 3.0 government’s first budget headline is the target fiscal deficit of 4.9% for 2024-25, which shows unwavering commitment toward budgetary deficit.  The increase in STCG and LTCG tax and STT on F&O is a dampener for the stock markets and might spook the market, but an increase in the exemption limit from the current Rs. 1L to Rs. 1.25L will help retail investors and encourage long-term investing. Increasing the standard deduction and revising new personal taxation rates is a significant relief for individuals. Overall, the budget is balanced, focusing on critical areas such as MSME, employment, affordable housing, skill building, ease of doing business, and energy transition without losing focus on infrastructure development and fiscal discipline. The compulsions of coalition politics are visible regarding announcements focused on specific states. The digitalisation of land records is a significant step forward in the direction of land records.

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