Budget Reaction |

V Swaminathan, CEO Andromeda & Apnapaisa

The benefits for affordable housing in terms of exemptions is a welcome move and is likely to give this segment a boost. The recapitalisation of Public Sector Banks will give a shot in the arm to lending activities and boost expansion in business activities and consumer spending

Rishad Manekia, Founder and MD, Kairos Capital Private Limited, a Mumbai-based financial planning firm

 The 2021 budget was different from those in the past not because of what had changed but because of what had stayed the same. It was a welcome surprise that there was no change in the tax slabs, no increases in surcharges and no changes in exemptions and deductions. This is a welcome change and will ensure stability and predictability to the taxpayer.

Sanjeev Govila (Retd), a SEBI Registered Investment Advisor (RIA), and CEO, Hum Fauji Initiatives, a financial planning firm 

This is definitely a good budget - focused on the short-term growth in the right areas without any disruptive taxation in these extraordinary times. One of the best budgets I have seen and could have expected in current scenario. Execution of the same becomes critical now.

Major things I have Liked

. No new major direct taxes including wealth tax, surcharge and LTCG.

. IT return forms to be pre-filled with interest income & capital gains. Senior citizen, over 75 years of age, exempted from filing returns if only pension & interest income.

. Disinvestment of 10% in LIC itself can take care of all the extra spending by the govt

. Companies having turnover of up to Rs.10 crore and receive at least 95% digitally are no longer required to get their accounts audited.

. Affordable housing incentive extended by one more year and No change in definition of affordable housing.

. Reduction in reopening of income tax assessment from 6 years to 3 years

The biggest positive is that there are no negatives like taxes on the ultra-rich, no Covid cess or any tinkering with long with long term capital gains tax. So, you got a budget with no bad news, creating ease of doing business and a focus on growth.