Union Budget 2017-18: Least volatile; disappointed with no change in corp tax

FM Jaitley in his Budget today focused on boosting spending power of common man, on creating jobs and improving rural income.

Ramesh Damani, Member BSE said there were are so many firsts in this Budget -- first railway Budget integrated, then change in Budget date from end of February to February 1, another first is that this is the least volatile Budget I have seen in 30 years.

The index was basically flat for two hours and I think from effective tomorrow, the focus is going to shift from what is happening on Dalal Street to what is happening at 1600 Pennsylvania Avenue. So global markets will again start dominating our headlines. This is an extraordinary achievement for the FM to deliver the least volatile Budget in 30 years that I have seen them.

However, Deepak Parekh, Chairman, HDFC is disappointed that there was nothing on corporate tax, except a proposal to cut corporate tax rate for MSMEs (Micro Small and Medium Enterprises) having revenues less than Rs 50 crore to 25 percent. He said, the Finance Minister expects 96 percent of the companies to benefit from this. So, we have to wait for our turn.