Speaking to CNBC-TV18, Gautam Chhaochharia, Head of India Research, UBS Securities, said the markets expect changes to the corporate tax regime and have already digested it,
Announcements in the Union Budget 2017-18 on corporate tax rates and long term capital gains is unlikely to spook the markets, said Gautam Chhaochharia, Head of India Research, UBS Securities.
Speaking to CNBC-TV18, Chhaochharia said that unlike last year, the markets expect changes to the corporate tax regime and have already digested it and started reacting to it to some extent. He said it the Budget would not do much to change the market trajectory, and that at the broader level, there would be nothing in the Budget to drive the market meaningfully.
Aditya Narain, an independent market expert, said he expected the Budget to be biased towards consumers rather than corporates. He said there would likely be in incentives on the consumer side in terms of taxes. Narain said talk of ease of doing business would not cheer corporates much as they had heard the same line before.
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