Investors with 6-7 months horizon won't worry about LTCG: UBS

Market participants with a horizon of atleast 6-7 months will not worry about the duration of long-term capital gains being changed, is the word coming in from Gautam Chhaochharia, Head-India Research, UBS Securities.

Moving on to the economy, even if the government manages to stick to 3.5 percent fiscal deficit in FY17, a series of rate cuts looking unlikely, Chhaochharia told CNBC-TV18. He says: "The consolidated fiscal deficit number is not looking good and the quality of spending will most definitely deteriorate as the bulk of spending will come from the states."

However, he believes the longer-term India story is still intact. As far as short-term issues are concerned, they are priced in at current levels. Watch video for more...