The D-day is getting closer and closer and India Inc is waiting with bated breath. Less than 10 days to go for the Finance Minister (FM) to present the Union Budget. Keki Mistry, VC & CEO of HDFC listed out his expectations from the
Budget 2013. He hopes the FM will not increase tax rates as it will hurt investor sentiment.
Mistry hopes that there is no increase in the tax rate because that would act as a bit of a dampener on the spirit which is already a little low, so no dampener on that.
"I would look at some incentives for investment for the investment cycle to start picking up. I don't know how much of that can happen because that can be through the Budget and some of this would be through administrative reforms," adds Mistry.
Further Mistry says, "Picking up of the investment cycle again is very important because that will bring the growth back into the economy. I would also look for a little more clarity on some of the provisions currently surrounding certain sections in the Income Tax Act."
Source : moneycontrol.com