One of the things I heard is that the finance minister wanted to reduce corporate tax to 25% for everybody but restricted it to the companies with up to Rs 250-crore turnover. The whole focus has been on the masses, on the rural, on the farm side without impacting the corporate side. My sense is they are already borrowing more than 25% from good large corporates are borrowing more than 25% from this bond market.I do not know about debt funds because I do not do any debt funds but even equity mutual funds will be at parity. The earnings blast is going to be there for the next at least four to seven-eight quarters and it feeds itself. That is more powerful than capital gains tax because in any case, the stock is not determined by the capital gains tax, it is determined by the corporate earnings and corporate earnings growth.

Source: Economic Times February 01, 2018 10:07 UTC