Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023

Our equity strategists view the budget as positive for infrastructure and capex-sensitive sectors, says Goldman Sachs

Brokerages have given a thumbs up to the Budget 2023 proposals, which they said is a reiteration of the key tenets of the government. Capex push, rationalisation of taxes, especially the personal income-tax and the status quo on tax treatment for sale of investible securities has been applauded. Here is a compilation of how leading brokerages and research houses have interpreted the proposals; and the sectors & stocks they are bullish on in this backdrop.

Goldman Sachs

The budget ticked all essential macro-prudential boxes. Tax assumptions seem realistic, with modest assumptions on tax buoyancy. The RBI may have to resume supporting