Budget 2023 to be more or less a non-event, says Samir Arora
"India has become attractive for its own reasons and because China has become less attractive," said Samir Arora, Founder and Fund Manager at Helios Capital.
The Union Budget for financial year 2024 is a few days away. It is likely to be the last full year Budget before the general elections in 2024. It is coming just ahead of the crucial state elections in 2023 this year. Samir Arora, Founder and Fund Manager at Helios Capital expects the Budget to be more or less a non-event.
“Most of the big picture reforms or steps have been taken. So, I think this Budget, at the end, will be more or less event-free, which is what we need. We don’t need new sudden announcements,” he said.
He also shared his insights on what will this Budget mean for policymakers, what can the government do to push the growth pedal even harder and what will the market make of all of it.
According to him, there will be no increase in any tax and there should be some more money in the hands of the middle-class.
“Because generally they have not benefited at all for many years in terms of anything from the Budget,” he added.
He believes nobody is worried about the fisc today.
In terms of capital gains tax, he thinks there is no justification to increase capital gains tax.
“There is no need right now to increase taxes on capital gains account where separately everybody knows that no other country charges tax to foreign investors. There is no big picture justification. Don’t rock the boat on this,” he stated.
Also Read | Budget 2023: Experts want govt to hike NPS contribution to 14% for private sector employees
When asked if the government should do more to make sure that India’s investment attractiveness stays where it is, he replied, “Absolutely but the thing is that India has become attractive for its own reasons and because China has become less attractive.”
For the entire interview, watch the accompanying video
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