Tax proposals in Budget to boost flows into stock markets, says NSE CEO Ashish Chauhan

Ashish Chauhan, CEO and MD of the National Stock Exchange (NSE), welcomed the tax proposals in the Union budget. He said it will help increase flows into the Indian stock market.

Finance Minister Nirmala Sitharaman presented the Budget in parliament on February 1. Along with a slew of changes, she announced a rehaul of the existing tax slabs under the new tax regime, effectively hiking the tax rebate limit to Rs 12.75 lakh. She also proposed to raise the basic exemption limit under the new tax regime from Rs 3 lakh to Rs 4 lakh.

While speaking to PTI, Chauhan said that he believes the proposal to impose nil tax on income up to Rs 12.75 lakh per annum for salaried professionals will also help consumption.

"The much-expected tax relief is given to the taxpayer up to Rs 12.75 lakh per annum for a salaried person does not have to pay even a rupee as tax. I think that is a very welcome move, which will help consumption and also investment increase into markets," he said.