Higher tax on rich is a step in right direction: Reliance Capital

Chat with Sunil Singhania, Head of Equity at Reliance Capital

Sunil Singhania, Head of Equity at Reliance Capital, says, "This (Taxing super-rich) is a very small tax and a small move towards the growth and development of the economy so I don't think its a big news. Its a nominal tax that will be implemented for just 1 year so it should not create problem for anyone. "

All in all, the Union Budget met his expectations through a credible fiscal consolidation plan and simultaneouly giving a boost to social development schemes.

"See, I think Budget has been okay and Finance Minister did a very good balancing act by meeting the fiscal deficit target and at the same time ensured that the social schemes get enough capital boost so overall its a practical Budget."