By Mr. Vikaas Sachdeva, Edelweiss AMC
It has overall been a positive budget (2015-16) with the onus on the
industry to capitalize on it. There is a lot of clarity in the budget about a
lot of things – especially about monetizing real assets - Two of the major
reforms announced is in the segment which includes Gold, where the FM has
spoken about a sovereign gold bond as
much as about monetizing and recycling gold.
Also, one year taxation akin to equity on REITS. Principally if you club
it, he has spoken about a cashless society.
What is also remarkable is the efforts towards bringing-in the huge mammoth
unorganized economy under the spotlight, Which in-turn, will propel the
economy.
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| Vikaas Sachdeva, Edelweiss AMC |
As far as the mutual fund industry goes, keeping the status quo is really
good news. He has recognized that the industry is genuinely doing a lot incase
of financial inclusion, investors have increased, participation from smaller
centres have increased, overall asset under management have increased – this
despite having been perceived as a slightly negative step incase of debt mutual
funds in the last budget.
Under section 80 CCD, the additional slab of Rs. 50,000 is welcome but it
could also have been extended to the Mutual Fund industry.
So overall though it is good for the industry.
About the author..
Mr. Vikaas Sachdeva is CEO at Edelweiss AMC,
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