Dinesh Kanabar, CEO of Dhruva Advisors told CNBC-TV18 that he projects the fiscal deficit to stand at 3.9 percent as the Finance Ministry is yet to cover 40 percent of the budget and the chances of that happening in just one installment of advance tax seem to be bleak.
Rohan Shah, Managing Partner, ELP told CNBC-TV18 that in the short-term the tax for Corporate India has gone up and the hike in service tax was also on cards.