A disciplined and sensible budget; rural, housing and consumption sectors get major boost: Angel Broking

Mr. Dinesh Thakkar (Chairman & Managing Director, Angel Broking) on Union Budget 2017-18:

A disciplined and sensible budget; rural, housing and consumption sectors get major boost

"This is an efficient and sensible budget and continues to follow the theme of maintaining fiscal discipline seen in the last two budgets. The focus continues to remain on improving the macros as government has not succumbed to the populist expectations. The fiscal deficit target of 3.2% for FY18 should further reinforce the lower interest rate bias and a positive outlook on the economy. There is also no negative announcement for the capital markets which should continue to attract foreign inflows. Affordable housing sector, with 100 percent deduction for profits upto 60 sq meters in non-metro cities, has got major boost and we believe this is likely to be positive for sectors like real estate, construction, cement, building materials, NBFCs, etc. The focus on agriculture and rural sector should help sectors like agrochemicals and fertilizers while lower income taxes should help in reviving the consumption demand. Overall we believe that this is a good budget."