All hell will break loose if govt fails: Basant Maheshwari on Budget expectation

While the market is having high hopes from Union Budget 2020, market expert, Basant Maheshwari apprehends that it will be a disaster if the government fails to come up to the expectations.

“All hell will break loose, if the government fails this time around. This is the first time in last 25-30 years that I have been tracking markets that India has slowed down on its own without any global issues. The government needs to do something. It cannot sit back and hope for something magical to happen on its own,” Maheshwari told Economic Times.

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Maheshwari also pointed out some aspects of current government policies that he feels need modifications.

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"The long-term capital gains (LTCG) tax has to go. The government in any case is not making any money from it. The dividend distribution tax should also be revisited. Companies are not keen on distributing dividends, because dividends actually attract a distribution tax," he said.

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