What top industry, market honchos expect from Budget 2018

The Sensex and Nifty edged lower for a second straight session on Wednesday as caution crept into the markets ahead of the Union Budget 2018 today.
 
The S&P BSE Sensex closed at 35,965, down 68 points, while the broader Nifty50 ended at 11,027, down 21.95 points. 
 
The expectations around this budget are muted with the major focus on a good balance between fiscal discipline and growth reforms. Experts believe rural economy will be the key focus, but infrastructure development and reforms are also likely to be highlighted. Some tinkering can be expected on corporate and individual taxation, they added. 
 
We have compiled what market and industry leaders expect from the Finance Minister Arun Jaitley on the Budget day: 
 
Raamdeo Agrawal, Co-Founder, MOFSL 

• The Budget will have a focus on rural India and the common man 
• It is going to be a reformist budget 
• It is not going to be a game changer budget 
• It may provide income tax relief 
• It is going to act as a trigger for 2019 general elections
• Big reforms unlikely, due to tepid macroeconomic data 

 
Keki Mistry, VC & CEO, HDFC 
 

• The budget will have its focus especially in 5-6 sectors 
• Emphasis will be on employment, housing and infrastructure 
• It will also focus on SMEs and rural sector 
• Relief under section 24 of housing  can be given 
• Under section 24, Tax exemption up to Rs2-2.5 lakh can be provided 

 
Ketan Marwadi, MD, Marwadi Shares & Fin
 

• It is going to be a populist budget 
• Government will also focus on growth 
• The budget will focus on rural development

 
Navneet Munot, CIO, SBI Mutual Fund
 

• A few changes expected in corporate and income tax 
• Need to simplify GST 
• It should have a focus on rural economy 
• Focus on measures to perk up farmers' income
• Increased farmers' income will translate into more expenditure
• Expanding tax net is required 

 
Anand Rathi, Anand Rathi Securities
 

• Reforms in agri sector expected
• Manufacturing sector to be in focus 
• Investor-friendly budget
• Tax collections will get better in next one-year
• Expenditure on infra, agro to get a boost post a pick-up in tax collections 

 
Habil Khorakiwala, Founder Chairman, Wockhardt Group
 

• Budget may shock us all
• Infrastructure to get a boost 
• Social sector will get a support 

 
Rashesh Shah, President, FICCI
 

• Focus on agriculture and rural economy needed
• Reduction in corporate tax
• Lower corporate tax will help boost private capex

 
Gautam Singhania, Chairman & MD, Raymond 
 

• Textile offers most employment after agriculture 
• Big steps required to push textile business
• Steps to control dumping from China and Bangladesh
• Labour reforms are required

 
Rajeev Talwar, MD, DLF
 

• Definition of affordable housing must be expanded
• Houses up to 150 square metres must fall under affordable housing 
• Middle class should also get benefit of affordable housing 

 
Leo Puri, MD, UTI AMC
 

• Rural economy to be a big focus 
• Low-cost housing will be a big focus too