Expansion of tax slab was unexpected: Motila Oswal

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

What sense do you make of the very surprising gift that the finance minister gave to the middle classes in the form of the expansion of the income tax slabs? It was wholly unexpected, wasn’t it?

Definitely it was never expected in this kind of regime where you are really fighting with the resources. So I think the experience of the government is that by reducing the taxes your impact increasing, the compliance and increasing the overall tax in 13% to 14% normal GDP growth. So I think the government tax is going up by at 13% to 14% nominal assuming everything. So I think that he thought that definitely let me try to give something more to the aam aadmi.