Jefferies said it is not expecting an immediate tax hike, considering elections, some post-election measures such as higher capital gains tax are possible during the year.
In Budget 2023, government capex saw an uptick of over 33 percent to Rs 10 lakh crore. For this year, market is expecting a growth of anywhere between 15-20 percent. Meanwhile, Jefferies believes that the number could be just about 7-8 percent