Lovaii Navlakhi, managing director and CEO, International Money Matters, gives his likes and dislikes about the interim Budget 2019.
Things that worked
- Tax sops to middle-class salaried employees by raising tax rebate and relief to farmers by providing minimum direct income to support consumption sector as people have more money at hand.
- Relief to farmers/cattle farmers also likely to be positive to rural/Agri focused companies.
- Real estate sector, which was under pressure lately, likely to benefit from series of reforms.
- Single window for approval of Indian film maker likely to support media/entertainment industry.
- Pro-growth long term vision laid out by the government positive for India economy over long term.
Things that did not work
- Higher gross borrowing, could be negative for bond yields as higher government borrowing could eat into bond market demand.
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