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Below the Quote on Union Budget by Shripal Shah, MD & CEO, Kotak Securities

“This Union Budget sets a clear vision for India's economic future, prioritizing both growth and fiscal responsibility.

The increase in the tax rate on long-term capital gains and short-term capital gains on equity, along with the increase in STT on futures and options, are aimed at moderating currently heightened activity levels and fostering a more sustainable pace of growth in the stock market. We anticipate a small period of adjustment as the market adapts to these new tax measures, but this will ultimately contribute to a sustainable investment landscape with balanced and orderly growth of the capital market.

Overall, this budget instils confidence in India's growth trajectory and lays a strong foundation for the future. We remain optimistic about the long-term prospects for the Indian economy and capital markets.”

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