'Expect a market sell-off if FPIs remain unhappy about fiscal deficit'

Real estate developers get an extension on tax liabilities for notional income on unsold properties. That gives them some leeway in terms of time to shift unsold inventory.

The Interim Budget appears to be on more or less expected lines. There’s a grant to farmers with holdings of less than 2 hectares. Moreover that is with retrospective effect so, it will be disbursed from this quarter itself, rather than from April onwards. That might mean some resurgence in demand in rural and semi-urban India, with attendant rise in toplines for corporates with rural exposure.

There’s a tax rebate for individuals with up to Rs 500,000 in taxable income. If such an individual uses instruments permissible under Sec 80C of the IT Act, upto Rs 650,000 of income could