APN News

  • Tuesday, November, 2019| Today's Market | Current Time: 08:10:13
  • Budget 2019 | Views by Rahul Jain , Head – Personal Wealth Advisory, Edelweiss

    Published on July 5, 2019

    Overall, the Budget is comprehensive and focused on India’s long term growth. The recapitalisation of Rs 70,000 crore for Public Sector Banks (PSBs) is a positive sign. However, while some proposed reforms for NBFCs, MSMEs, EVs, and Start-Ups are commendable, we will have to wait and watch on how it is executed. The FY20 fiscal deficit target of 3.3 % of GDP, is also ambitious, when compared to the Interim Budget Estimate of 3.4% of GDP.

    As expected, there has been no change in income tax slabs for individual tax payers, but there has been an increase for those earning INR 2-5 crore and above. The effective tax rate for these categories will increase by around 3% and 7%, respectively.

    The proposal to extend Equity Linked Savings Scheme or ELSS-like income tax benefits to CPSE and Bharat-22 ETFs, will boost more retail participation in capital markets and increase tax saving options under section 80C. However, investors are advised to make careful choices.

    Loading...