Quote on Union Budget by Shrikant Chouhan, Head Equity Research, Kotak Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Union Budget by Shrikant Chouhan, Head Equity Research, Kotak Securities
"The budget is comprehensive and has managed to achieve the seemingly impossible trinity of fiscal prudence, investment, and growth momentum.
Under the new tax regime, the standard deduction has been raised from Rs.50000 to RS.75000, and the NPS has seen an increase from 10% to 14% for the employees from companies is positive.
Taking into account the demographic situation of our country, prioritizing job creation and providing incentives to manufacturing units will undoubtedly fuel the country's growth. Moreover, various small-scale initiatives would bolster consumption.
Maintaining the capital expenditure allocation and lowering fiscal consolidation to 4.90% by FY25 is positive for the economy and would lead to upgrades from rating agencies.
While the indexation benefit for the real estate sector has been eliminated, the reduction of the tax to 12.50% from 20% is positive. The hikes in long-term and short-term capital gains tax are unexpected and the market would adjust to that "
Overall we remain optimistic about the long-term prospects for the Indian economy and capital markets
Above views are of the author and not of the website kindly read disclaimer
