Expect an anti-rich Budget 2017; realty buyers should watch out, says Ambit

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The Union Budget 2017 this year seems particularly important in the aftermath of the India’s biggest decision of 2016 – demonetisation and preceding elections in UP. A recent report by Ambit capital suggests that Union Budget is likely to be focussed primarily on reinforcing the ‘black money crackdown’ theme with a secondary focus on delivering token payments to the poor as well as income tax cuts.

Even though it was a massive political success, it’s still unclear if the experiment worked for the government in its stated attempt to curb black money or raise the tax base by bringing a larger share of unaccounted income.

According to the report by the brokerage firm, the government is expected to announce an ‘anti-rich’ budget with a secondary focus on: delivering token payments to the poor; and tax cuts for the middle class

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