INSUBCONTINENT EXCLUSIVE:
The Union Budget is usually said to dig one hole to fill another
However, this one is surprisingly different, says Vijay Kedia, MD, Kedia Securities
In an exclusive interaction with ETMarkets.com, he said the salaried class is 100 per cent honest taxpayers, as they have no way to escape
or hide income like any other classes
Commenting on the tax exemption for the middle class, Kedia said people initially got confused that the basic exemption limit for
individual taxpayers has been raised from Rs 2.50 lakh to Rs 5 lakh, but that is not the case.
They have just amended Section 87A and stated
that if the net taxable income is up to Rs 5 lakhs after all deductions, only then no tax will be charged
Kedia says the direct income support for farmers is too little, but it is still better than nothing
does not think the Budget will be a game changer for the incumbent government
But it is not an all-that-glitters-are-gold kind of market
The indices have been holding fort in spite of so many unfavourable news as well as sustained selling by foreign institutional investors
BSE Sensex advanced 212 points, or 0.59 per cent, to 36,469 post Budget, while Nifty gained 62 points, or 0.58 per cent, to 10,893.
Kedia
says 90 per cent of midcaps have become bhangaar stocks and advised investors only to pick companies with quality managements
Kedia said the biggest lesson for new investors from the recent market gyration was to go with a management that is honest, hungry as well
