Varun Lohchab of HDFC Securities expects that the markets to respond favourably if the status quo is upheld for LTCG (long term capital gains).
Rohan Shah of BP Wealth is bullish on Ashok Leyland, Max Healthcare, Supreme Industries, IRCON, and Apollo Tyres as he sees 17,470-17,420 as a strong support zone for Nifty50.
Prashant Pimple of Baroda BNP Paribas Mutual Fund expects FY23 to stick to approximately 6.4 percent FD/GDP in line with last year's budget and FY24BE to target fiscal deficit of around 6 percent of GDP, on path of fiscal consolidation.
The divestment program of the country has gone too slow in the last 8 years and focus on the divestment and deployment of funds into infrastructure creating jobs should be the sole focus at this stage.
Anand Rathi of Anand Rathi Group anticipates the budget to place a significant emphasis on boosting rural consumption.
Fiscal consolidation, policy reforms and higher capital expenditure to support growth are likely to be high on the finance minister’s agenda, says the Chief Investment Officer-Equities.
The Nifty, he says, has to hold the 17,777 zone for any kind of upward move. If it doesn’t, the index may fall to the 17,500-17,350 range. The metal index is trading near its life-time high and can hit 7,000, Taparia says.
Fiscal consolidation, policy reforms and higher capital expenditure to support growth are likely to be high on the finance minister’s agenda, says the Chief Investment Officer-Equities.
The government may increase allocations for capital expenditure, production-linked incentive schemes and MNGREGA while providing tax relief to the middle class, says Gaurav Dua of Sharekhan by BNP Paribas.
Budget 2023 Expectations: Achieving the balance between fiscal prudence and supporting long-term growth and investments in the economy should be the priority of the Finance Minister, said Tejas.
To negate the downtrend, Nifty has to surpass 18,500 on a closing basis, says Vinay Rajani of HDFC Securities.
Budget 2023: Since salaried employees are an important source of revenue and this is the last budget before elections, the finance minister may provide relief to the middle-class, feels Anil Rego of Right Horizons.
Indian manufacturing exports are likely to grow at a fast pace over the next 3-5 years and beyond.
Research & Ranking’s Chief Investment Officer Jaspreet Singh Arora expects the Union Budget to announce measures to boost rural demand and thinks road, rail and defence sectors will benefit from the government's spending push
Indian markets will continue to outperform the global market going forward. Therefore, this is the ideal time to act aggressively rather than waiting for a correction.
Former RBI Governor Raghuram Rajan advised continued vigilance over asset quality of lenders and said state governments must target the weakest sections through pension schemes without compromising on the ability to spend in the future.
"The impact of the budget has weakened over the years. There may be some short-term effects from CGT changes, but we do not expect any significant change in the trajectory of the markets after the budget," said Seshadri Sen of Alchemy Capital Management,
Investors will have to build a case for another year of modest returns and take advantage of days with high volatility to build a long-term portfolio.
Speaking exclusively to Moneycontrol at Davos, the minister responded to the uproar over NPTC's project near the Joshimath area. RK Singh said the project came up only in 2009, while the issues have been plaguing the region for many decades.
The Union Budget FY24 is likely to be on similar lines like the previous budgets of this government where there will be a focus on capital expenditure. The market will also expect the government to provide clarity on the fiscal consolidation path.
For the Mutual Fund house, fiscal consolidation is an important theme for Budget 2023. It, however, expects limited change in direct taxes in the Union Budget.
Budget 2023 is likely to focus on capital expenditure as a growth driver and give an impetus to manufacturing while continuing with the post-pandemic fiscal consolidation.
"We expect this to be a regular pre-election budget where the focus will be on manufacturing and spending for the masses. The capex and growth narrative underlined in the previous budget will roll over the ink towards this budget," said Divam Sharma of Green Portfolio
Clearly, the focus for budget 2023 will be to stimulate and give the economy a push, considering what we have been through since the last budget in 2022.
Being the last major budget before the central elections in 2024, the Government might prefer to increase spends on rural infrastructure which could have a multiplier effect on the economy.