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DAILY VOICE | Deepak Jasani of HDFC Securities feels FM could introduce a 'corona cess' in Budget 2021

Spending by Consumers and Businesses (capex) could be given a boost to kickstart quick recovery.

January 28, 2021 / 07:59 AM IST

Deepak Jasani, Head of Retail Research, HDFC Securities feels while direct and indirect taxes may not offer much scope to innovate or bring path breaking reforms (except those related to capital markets), the main focus could be on boosting manufacturing through schemes like PLI and to create jobs.

A Chartered Accountant by profession, Jasani expects the fiscal deficit to rise to 7.6 percent of GDP in FY21. He has a broad-based domain expertise of more than sixteen years in capital markets.

To meet the COVID vaccine related costs, the FM could introduce a 'corona cess'. Disinvestment target for next year is likely to be ambitious as certain planned disinvestments for FY21 spill-over into the next fiscal. This Budget is important from the perspective of sovereign ratings, he said in an interview to Moneycontrol's Sunil Shankar Matkar.

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