“The Budget is a very well balanced one. Adhering to fiscal consolidation target of 3.5% in FY2017 , no Long Term Capital Gains tax on equity investments and no increase in service tax are the key positives from the Union Budget presented today. There has been a clear focus on reviving the rural economy and continuing with spending on infrastructure which will boost economic growth. Various reform measures related to FDI investments and Ease of Doing Business should go down well in improving business sentiments. All major issues have been addressed in the Budget including retro taxation and black money.
Today’s Union Budget prepares a ground for further rate cut and it’s expected to impact both debt and equity markets positively.”
The author is Chief Investment Officer, Future Generali India Life Insurance