BUDGET LIVE: Budget on schedule, Arun Jaitley leaves for Rashtrapati Bhawan


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BUDGET EXPECTATION: We expect the Government to announce an ‘anti-rich’ budget which focusses on installing penalties on cash transactions, tax on the withdrawal of cash from the banking system, income tax relief for the middle class and potentially an adverse capital gains tax-related decision for equity investments. Additionally, we expect a moderate increase in revenue expenditure allocation whilst capex is deprioritised. As regards the fiscal deficit, the Government is likely to postpone the fiscal goalpost of hitting 3% of GDP in FY18. -- Ambit Capital 



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