Budget 2018: Capital gains tax plays spoiler, says Ajay Srinivasan

The Budget is fiscally responsible and strikes a sound balance between rural and urban development. While the government has an impressive list of reforms — including GST, Bankruptcy code, recap of public banks and liberalisation of FDI norms — it will take some time for some of these to play out. 

The decision to move from “AA” to “A” grade rating securities opens up the investable universe for insurance companies and deepens the bond market as well. However, the decision of keeping the minimum support price at one-and-a-half times of production cost could end up impacting inflation. The introduction of a