Aditya Birla Sun Life AMC's A Balasubramanian Discusses Budget 2024 Impact on Employment, Rural Economy, and New Tax Regime | NDTV Profit - video Dailymotion

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00:00But A. Bala is joining us now.

00:02Vadithya Birla, Sun Life, AMC.

00:04Bala, welcome to the conversation.

00:06And we spoke about so many things pre-budget.

00:08We have the announcements now.

00:10Let's start with your first take.

00:14A pretty decent budget,

00:16clearly addressing

00:18the various needs of the country,

00:20whether it is employment, skill development,

00:22rural economy, giving a boost

00:24to the SME sectors,

00:26and access to the finance through the expanding

00:28SIDBI into every part of the country

00:30to ensure that money is now

00:32actually going closer to the people

00:34who would be in need of funds.

00:36And last, of course, is the

00:38income tax, the change

00:40that they brought in terms of slabs,

00:42which is, of course, putting slabs,

00:44which is basically

00:46giving more money in the hands of people.

00:48At the same time, above Rs. 15 lakhs,

00:50now 30% plus surcharge.

00:52A lot of money in the hands of people,

00:54which again, essentially,

00:56is towards boosting the consumption.

00:58And capital gain tax change, of course,

01:00given the fact a lot of wealth

01:02has been created, a lot of money has been made,

01:04people are deeply in money

01:06the last few years,

01:08the 2.5% increase in capital gain tax

01:10may not be actually significantly

01:12denting the investors' sentiment,

01:14given the fact that you have to

01:16pay this only upon

01:18the selling, and second is

01:20it all depends upon

01:22if you hold it for five years, 2% per annum

01:24is not a significantly higher amount

01:26for somebody to get worried about it.

01:28Clearly, I think it's a growth-oriented budget.

01:30And second is,

01:32it's an action-oriented budget

01:34with a clear allocation

01:36that is being kept aside for every segment

01:38of the activities. And last, of course,

01:40least is, despite

01:42all these allocations that are increasing

01:44towards the two states

01:46where most people are thinking there will be a populist budget,

01:48and each of these spending allocations

01:50has come to these two states, whether it's Andhra Pradesh

01:52or Bihar.

01:54It is linked to the industrial activities,

01:56the pickup and special focus on

01:58tourism, increasing

02:00the pilgrimage activities

02:02in these centres. All of them actually

02:04are more with the intention to

02:06increase the contribution from these states

02:08further to the economic growth.

02:10Therefore, I call it as a

02:12growth-oriented budget.

02:14And what is also interesting

02:16is the fiscal deficit,

02:18they have maintained it, and also given

02:20that even next year,

02:22they're showing the confidence of maintaining about 4.5%,

02:24which essentially means

02:26one, growth will continue

02:28to be the driver, and tax collection

02:30improvement will continue to be the driver.

02:32At the same time, ensure

02:34the overall

02:36numbers adds up

02:38to ensure that the fiscal deficit is also maintained.

02:40And last but not the least,

02:42given where we are currently going to be with the balance of payments

02:44that they're running, giving a

02:46specific focus on export

02:48sectors, whether it is diamond

02:50or jewellery,

02:52or even the

02:54textile sectors,

02:56that's something which has been one of the

02:58expectations from people that

03:00export sectors should give some kind of booster

03:02through the series of

03:04basic custom duty changes

03:06that they have brought in. I think clearly

03:08they have brought in some kind of focus on export sectors

03:10indirectly through

03:12various changes that they brought in on the

03:14custom duty. That's why I feel it as a

03:16good budget and overall perspectives

03:18probably I would say

03:209 out of 10 in the overall ranking.

Aditya Birla Sun Life AMC's A Balasubramanian Discusses Budget 2024 Impact on Employment, Rural Economy, and New Tax Regime | NDTV Profit

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