Budget 2024: Expect some relief on the personal income tax front, says Amitabh Mohanty of JM Financial
Amitabh Mohanty, MD and CEO of JM Financial Asset Management Ltd. In an interview with Mint, Mohanty shared his views on the Indian market and mid and small-cap space. Edited excerpts: It may not necessarily be a simple vote on account.
In the past, the government in the final budget presentation before the general elections has been more detailed than a simple vote on account. Given the past trends, we do not anticipate a populist budget. We also do not expect that the government will go for major announcements, before the elections.
They will signal their intent to continue on the path of pragmatic fiscal management with a continued focus on infra spending and spending on social infrastructure. One area where we may expect some relief is on personal income tax. There may be some rationalisation of tax slabs and rates.
A budget which broadly reflects the past trends will be welcomed by the market and will be supportive of the economy. Also Read: Major announcements in the upcoming Budget unlikely; India on the cusp of huge growth, says Sandeep Raina of Nuvama We think that the uncertainties prevailing around inflation, both, domestically as well as globally will prevent RBI from acting on the interest front, in the near future. Domestic growth seems to be holding up well.
Therefore, we believe that we could be in for a prolonged interest pause. RBI actions, both, implicit and explicit could be on managing systemic liquidity, which we believe will be kept balanced. RBI might be focused on the currency front, keeping volatility low.
Read more on livemint.com
