Today, 29th February, a day of Union Budget, 2016 (2016-17) for Narendra Modi lead BJP Government. Finance Minister Arun Jaitley will present his third General Budget. There are many indications during the recent past to suggest that the Union Budget for 2016-17 will primarily focus on stimulating growth without deviating too much from the fiscal deficit target set by Mr. Jaitley in his latest previous Budget.
Indian Stock market has started with more or less Flat bais on Nifty and Sensex today ahead of Budget. Huge expectation of FIIs as well as Domestic Investors is there in Budget to get something new by Mr. Jaitley. However, one of the main fear factor is holding period of Long Term Capital Asset on which STT is paid. It is now 1 year, and it may increase to 3 years. It is to be seen weather it increases or not. Apart from it, many more Investment related allowance are suppose to come from Direct as well as Indirect tax angel.
PSU Banks needs to be in lime light today. One may long it, mainly leading banks State Bank of India, Bank of Baroda and PNB. Apart from it, Infra and Agriculture related Stocks are suppose to gain something from this Budget
More to come…
Stay tuned with CA Corners for Live Highlights and Analysis of Union Budget 2016