The Centre is expected to announce some kind of land reform and a tax cut for the middle-class moving forward, said Saurabh Mukherjea, founder, Marcellus Investment Managers.
"The sense one gets from both the finance ministerâs announcement and from the way Prime Minister Modi is speaking in the United States is that they have unfinished business on the reform front," said Mukherjea in an interview with CNBC-TV18.
âThe logical unfinished business that comes to mind is land reform. There is no point in saying I will give you lower tax rate if you set up a plant October onwards if the land is not easy to buy and therefore I reckon land reform should be a winter session of Parliament priority,â he said.
"Moreover, on finished reforms, it would be odd, if they do not give the middle class a tax break after giving corporates such a tax break, which is more likely to be a budget session item," added Mukherjea.
Talking about the NBFC space, he said the house is holding Bajaj Finance and expects the company to do well when the sector consolidates. However, for the sector as a whole, it will take a lot of effort to bring it out of the woods, according to Mukherjea.
With regards to banks, he said the house currently hold HDFC Bank and Kotak Mahindra Bank and added that ICICI Bank and Axis Bank are interestingly placed.