Budget Expectation: Mr Satish Ramanathan, CIO – Equity, JM Financial Asset Management Ltd

26 Jan 2024 , 01:47 PM

Given the current mood, we do not anticipate any populism in the budget. We do not expect that the Government will go for major announcements in an ‘interim budget’, before the elections. They may signal their intent on continuing on the path of pragmatic fiscal management with a continued focus on infra spending and spending on social infrastructure. One area where we may expect some positive relief is on personal income tax. There may be some rationalisation of tax slabs and rates. A budget which broadly reflects the past trends while laying down the big picture for the way ahead, may be welcomed by the market and be supportive of the economy.