New Delhi, Jan. 27 -- Rahul Bhuskute, CIO of Bharti AXA Life Insurance, believes that in Budget 2025, the fiscal space for income tax relief will be limited unless the government shifts away from the continuing capex focus. He believes pursuing capex increases along with income tax cuts will be difficult, given the commitment to the 4.5 per cent fiscal deficit target. In an interview with Mint, Bhuskute also shared his views on markets and sectors.

We expect the central government to prioritise macro stability by sticking to the fiscal consolidation path and will likely avoid populist measures.

This Budget is also set against the backdrop of slower domestic consumption and activity, which are likely to be the focus of the announcements....