The Budget is positive: Motilal Oswal

Motilal Oswal, CMD, Motilal Oswal FInancial Services, in a chat with ET Now talks about the Budget.

What did you make of the budget? From the markets point of view near term, medium term you think this is a positive statement from the finance minster?

It’s really positive in the sense that on the back of no expectations and on the back of that that there will be either partial or I think even bigger roll out of the stimulus package, there are lot of positive surprises.

We all were talking that stimulus package will be ruled out in a big way but it’s only that 2% excise cut has been rolled back but the positive thing is that the service tax has been retained at the same level.

The reduction in the surcharge, corporate surcharge has nearly come down from 10% to 7.5%.

Only a little bit negative or disappointment is the increase of the MAT from 15% to 18%. But I think if you look at overall kind of stuff, we have got broader roadmap for the fiscal discipline for next couple of years and very important thing is that there is a roadmap for both GST as well as the direct tax code being really implemented from next year.

So I would say that it is quite positive in that sense and now there is a fair clarity about the Budget and my sense is that overall the importance of Budget is really coming down as years are going on.