Pashupati Advani of Globalforay said that he is expecting a tough Budget for the Central government this year.

He said, "A lot of industry discussion are going on as to whether the government is going to give a budget that is going to encourage spending and therefore have the multiplier effect or whether the government is going to look at the deficit and say we are not going to spend on anything and tighten the belts. It would be regressive to do that but we have a government and we don't have unlimited spending, money still needs to be spent on vaccine, money still needs to be spent on farmers because the farmers are jumping up and down all over NCR region, so they have to appeased. So I think that it is a tough call and I personally feel that budget is going to be a tough budget. There is going to be a push to get more people to pay taxes."

Speaking on ITC he said, "ITC has moved up nicely but the reality is that government has put some further rules against cigarettes and one of the biggest things in ITC is the issue of selling loose cigarettes and they are trying to put that away and that is very bad for ITC. There have been articles that ITC will break into pieces and some of the pieces are worth more than the hole but the reality on ITC is that the cigarette business is the cash cow and so separating it from the rest would be tax inefficient. So I do not think that is going to happen in a while.

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(Edited by : Aditi Gautam)