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Ramdev ji, good afternoon, we have Ramdev ji with us right now, Madhu Kela ji and Vijay Kedia ji, so all the market experts are with us right now, please put them all in the window once, Ramdev ji, because you also run a mutual fund, a broker, you yourself are a successful investor, how are you looking at today's budget, especially look at the tinkering that has been done in capital gains taxation, I think that according to the party going on in the market, there will be about 25 to 30 percent more taxation in all three categories, be it long term, short term or speculative, so in the long term your 10% has become 12%, in the short term it has become 15% to 20% and I don't know about the big number but it will be a very good number, it may be from 50 thousand to lakh crores, in this Mamji ji, in which direction is this signaling that due to too much speculation, it seems that it means equity, that they say that you have earned a lot of money in equity, so you Keep giving us some money as well, it means I don't think it is rational because they should encourage this particular asset class, so let's say you increased it from 10% to 125% in the speculative long term, it means I think your thinking is that if you have earned a lot of money, then you should spend a little part of it with some portion of guess.
I don't think the logic is that we should disincentivize investing in equities, but basically I understand the logic that why the long term capital gains tax was increased so much, short term is what I understand, short term is the speculative tax rate, so in any case you are paying the full tax, there is no change for them, so Ramdev ji, you are saying that if you increased the short term, it is okay, the long term should not have been increased, the long term should have been kept the same or you are punishing the long term holders, if you are punishing all the long term holders, then what do you mean, what do you mean?
Do you want to make people speculators or do you want people to invest and keep it for a long time to build the country and create enterprises? I feel like you should speculate too much and make quick moves, so that there is no benefit for you in keeping it for the long term, then you keep increasing it.
This is an interesting thing, Vijay Bhai Ramdev ji, there is a bit of a contrast between you both, right now you are saying that there is no problem, people always keep a shortage on 1, how will you respond to what Ramdev ji is saying, no, I do not have that much wisdom to refute what Ramdev ji is saying, but personally my view is that understand, there also you made the short term 15 to 20, here you made 10 to 1230, so you are encouraging people to make long term investments, because you have reduced the tax, yes because there also you made it 15 to 20, here also you made 10 to 125, so see the ratio, the tax You will have to pay, there are 1000 people who show income of more than one crore in India, you cannot deny those things, it means that those who talk about water and oil, oil will come from sesame only, brother, you will earn from the one who is earning, now in the morning they said Annadata and Pooran madam came in it and they have told those four categories, so who will pay the tax brother, tell me here ultimately that only those who can pay will pay the tax, yes those who can pay do not want to pay, those who cannot pay do not want to pay, obviously it is so, then how will it come in the country, ok Madhu brother, are you ready to pay a little more tax, Anuj, I will repeat my point, if there is a gain then there is no problem in paying tax, as long as the Indian economy continues to do well, the markets remain vibrant, if we take something from our gain then it is fine, so as long as they take all the necessary steps, brother, this country should keep growing, this economy should keep growing, the companies here should keep growing, I know you in anchor terms Ultimately, you should do as Vijay said, I completely agree with him.
Ultimately, the government will ask for tax from whoever earns. We are not happy with this, considering that taxes are increasing, but there is no other option. If the government has to allocate somewhere else, then taxation will have to be collected from somewhere. And this is the history of this country, not just today, but for the last 20 years, that the two people at the top, who are the two rich people, always bear the greater burden of taxation.
Anuj, you should check the history of not just the present but the last 25 years and it is possible that there may not be any change in the future. So, I am doing this so that our country continues to do well, our country continues to progress, our corporate sector continues to do well. Then I have no problem in paying 10 to 12.
As long as they make gains, I have no problem paying the taxes. Okay, absolutely, Atal Bihari Vajpayee ji had said it. You said it in Almost Sushil Haze. By the way, Madhu Bhai, Ramdev Sir, let's not just talk about taxation, there is also something else. A lot was announced in the budget, some major announcements were made on real estate, a little bit, some steps were taken on gold.
Overall, how did you see the budget? If we keep this taxation disappointment aside for once, the fiscal deficit is also 4.9, next year there is talk of 4.5. Overall, how are you seeing the budget? Look at the budget, he has given everything to everyone. He has tried to address all the segments, whether it is for the people of the lower strata, by way of rate reduction or lower tax rate or stoppage.
If you look at the rest of the budget paper, you will understand more. It is a bit of a popsicle type thing. There is a wide spread of benefits, so it could be a consumption scheme. Well, a month ago, after the elections, he had announced MSP very well for the farmers. That is one of the biggest things.
You see, as soon as the speech started, his focus was first on the farmers, so the increase in MSP and the benefits given to everyone gave a strong reaction. I think it is a wide spread, not a consumption scheme at the bottom of the pyramid. He said that there should be some reduction in GST or something like this, but the way extra income has been given to everyone, I think it will give a little boost to the consumption.
I want to discuss the topic of consumption with you too, Vijay ji. The 7500 that remains extra in your hands, especially if you are in the new tax regime, how much will it be seen consuming? Rahul was also mentioning that look, the new employees who are taking up jobs will be seen getting a separate government payment of minimum 1 lakh and maximum 1 lakh.
They will get a minimum of 15000. How much will this be a change? It is not consuming. And I do not have the knowledge about how much difference it will make. I actually do not understand the mathematics that Rahul ji told. Overall, I feel that this budget is a very good budget in itself, whether you take it as a fiscal deficit or look at it for tourism.
Now, I want to give you another answer to it. I have told you two, three ways. There is medical tourism for tourism, which increases the income of the country, and there is religious tourism, so whatever they have taken, like solar, they had already told earlier about the number of houses they have taken, so all this together is going to consume, overall I feel like this, so is it around these themes, now I am talking about that investor who is saying that if there is income then tax will also have to be paid, will new money be seen being invested around those same themes, then how are you going to position yourself in terms of new investments, if not new investments, then I would not like to make any new investment, because the market is a little overheated, even if I have no idea, I will wait a little for it, and in this way also I am almost fully invested and I feel that the old themes which were going on earlier, those themes, like infrastructure, are going to continue in the future as well, manufacturing is going to continue in my I think the biggest problem in India, which is a red flag or should I say a fear, is unemployment.
The rate of unemployment is 80-90 lakh unemployed people every year and apart from that, those who are leaving their jobs, they need jobs back. So for this, if you boost the manufacturing sector, then it will benefit from it. So I think the old themes, wherever the government was focused, will continue and whatever they have told me now, all the policies they have made around that.
The new policies that they have announced are around the same thing that the government has been saying earlier that we are okay to do this. By the way, perhaps there is a news that the indexation benefit on real estate has been abolished. Perhaps Hasta, I am trying to confirm this now because if this happens, then this will also be a big negative.
Okay, I have to go to Ramdev Sir. Ramdev Sir, one last question to you, what will be the return? We should expect something from the market from here because the last 3 years have been a golden period, especially for mid-cap investors. The returns that we are getting now, firstly, the corporate performance is also saying that this year there will be growth in earnings at 15-17, so that is one thing, secondly, the participation which has been there till now is very strong, so I do not see much change in the liquidity flow, so the return expectations that we had, I think this budget will not make any difference, there is nothing like that in this that your market facing returns will be affected, there are some changes in taxation, that is your personal after making money in the market, what ever you have to pay, so I do not think that it has impacted the market in any way and since whatever was the expectation from 15, our annual expectation is doubling in five years, I think that remains an intact situation, for this Ramdev Sir has a formula which Ramdev Sir is teaching with great passion these days, the roll of 72.
I actually went to interview Ramdev Sir last night and Ramdev Sir made me sit in his cabin and he explained that rule to me. After that he gave me a book and a paper and a pen and after that Ramdev Sir said that now I am giving you three- four examples and tell me by applying this roll, in how many years will it double?
Ramdev Sir, by the way, that was a very good experience for me and we will cover it well in future. Thank you very much for joining us today. Ramdev Sir Madhu Bhai, what would be your message to the investors right now because many people are asking me questions like should I reduce my investments to zero for once?
What would you say Anuj Bhai, we have experienced this market for many years, whenever we take a call that the market has jumped a lot, reduce it completely to zero or sometimes it has bottomed a lot, sell everything and invest, all that was not enough in my long term career. If there has been no impact, then I would say this in a very careful manner because the market has given very good returns, there has been a huge run-up in many sectors and many individual companies, so this time I would say that there is an opportunity to pick shares very carefully and wherever you have made extraordinary gains, where you feel that the valuation of the companies has really gone out of the way, I think you should sell them wisely so that you sell and the price will go up, you will always feel, oh my god, I have sold this and its price has gone up, you know, now we did not get it written from anywhere that we will buy only at the bottom and sell only at the top, as long as our returns have been made, wherever the returns have been very good, I am telling you what I am doing myself, Anuj, I am selling shares also and but I am also open that if I see any real company opportunity, I will not buy it because the index has grown very big to 24500.
If I find any opportunity in the company and if I have a long term view and I have my own money, then I am open to make investment but I am a very careful investor at this point of time that is all I would say okay and brother thank you very much I mean while you should bring DLF once thank you so much that one thing I was saying that the indexation benefit has been removed after that you see how this stock has been traded at this time Vijay Bhai, some last words if our viewers who are watching you follow you a lot, you have a huge following in retail, everyone wants to become Vijay Kedia, what would be your message, my message is the same Anuj Bhai, invest wisely, do not waste time on rumours, learn from experience and do the best, the simple message is brother there is no point in investing much here and whatever you said, people tell you that yes I should leave right now, sell everything and leave, I have never seen such a day in my 30 years of history It was not that when I ever sold and came out completely, rather at the time of 99, I was invested at 100 99, so saying this, if you leave the pitch, if you run away or leave, you cannot score a century, then your chapter of earning money is over, at least you will stay, the market will also fall, brother, there is a rising economy, there is a rising stock market, there is a rising economy, so whenever there will be chances, when you are standing on the pitch and playing, if you do not hit fours or sixes, then keep taking one run, if you do not hit a run, then stand still, keep playing defense, you do not want to lose a wicket, basically you do not want to lose a wicket, if you lose a wicket and leave the pitch and go to the stadium, your chapter is over, ha ha, your history is over, that means you have become history, you have become history, so stay here, stay here in absolutely every situation, this is the law of time, stay in every situation, this is the law of time, thank you very much
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