Expectations from Union Budget 2020 - Amit Jain, Founder and CEO, Ashika Wealth

Finance Minister Nirmala Sitharaman is scheduled to present the Budget for the financial year 2020-21 on February 1. Ashika Wealth's Founder and CEO Amit Jain talks about his expectations from the Union Budget 2020-21:

"In our view, to generate employment, the government should increase fund allocation to new age start-ups through Niti Ayog. Also, start-ups should have some tax incentives proportionate to employment generated by them. Investment in the equity market should always be from long term point of view, so to encourage long term investment in the stock market we should have three slabs for capital gains, which are as below:

Short term Capital gain Less than 1 year 15%

Long term Capital gain 1 year to 3 years 10%

Very long term Capital gain Beyond 3 years Nil

These slabs of capital gain shall courage and incentivize the long term investment in the stock market and subsequently reduce volatility in the short to medium term."