A sheer knee-jerk reaction by stock markets today. The Budget has been fair without any negative surprises except for minimum alternate tax (MAT). But, that too was compensated by the removal of fringe benefit tax (FBT). The Budget has increased rural spending and cut tax surcharge, something that will keep the growth engine well-oiled. Although there was no announcement with regard to divestment of PSUs, definite moves in this direction would be announced soon. Going forward, managing fiscal deficit will be the key for the government.
Anand Rathi
Chairman, Anand Rathi Securities
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