By Ashishkumar Chauhan
Overall, the Budget is big on large picture and vision despite the calamitous period we have witnessed the last financial year. I would give it 9.5/10. The markets were buoyant reacting to the budget proposals as no new taxes and levies have been imposed. The rationalisation of tax structures for FPIs, NRIs, InvITS and REITs will also help attract more funds for capital formation in India. A consolidated Securities Market Act, Domestic Gold Exchange regulator, LIC IPO, other PSU disinvestments by showing a clear cut forward path has given a tremendous boost and strengthened the markets infrastructure framework for capital formation. Tax-efficient zero-coupon bonds for infra financing will bring in significant flows and enhance the role of the capital markets in nation-building.
(The author is MD & CEO, BSE)