1. I N T O U C H
A N E W S L E T T E R B Y S E E M A N D I S T R I B U T O R S - R E D E F I N I N G P E R S O N A L F I N A N C E
F E B R U A R Y 2 0 2 1 ,
Will the Bull run
continue ?
H O U S E V I E W S O F E Q U I T Y E X P E R T S
Experts and elders always say this : "If you are a long-term investor in
the stock market, you can’t possibly lose” . Those watching the
NIFTY’s dizzying rise since March 2020, will find it hard to disagree.
From almost 7500 in April 2020, the NIFTY index has soared to around
15,000by now. It has not been a smooth ride during COVID crisis, but if
you had the stomach to hang on to the equities, you would have ended
up with an annual return over 14% and around 80% from its bottom.
Now after this wonderful budget in February every investor have one key
question - "Will this Bull run continue or is there any thing to smell
negative in this budget ?"
Read this special issue of our newsletter to get some better
insight.
ASHI S DEY
M D
S E E M A N
D I S T R I B U T O R S
From the Editor's
Desk :

2. Market after this Budget
W I L L I T H E L P T O I M P R O V E C O R P O R A T E E A R N I N G S ?
One thing is very clear that, this budget
was very tough for our government. On one
hand they have to manage the fiscal deficit
and on the other hand they need to pump
in confidence among business and citizens
to improve GDP.
Looking at the historic incidences in USA
and other developed nations, we assume
that government's step to increase the
fiscal deficit gap, is not surprising ! In pst,
USA had a growing fiscal deficit for around
a decade because growth was their priority.
So , an increased fiscal deficit clearly
means, government is all set to invest in
the economy and boos businesses. Equity
market will surely cheer this up !
So the Key Question is - what will be the key
area of spendings ? The answer is -
Infrastructure !
Of course there will be other priorities also,
as mentioned in the budget announcement,,
but government seems to be quite liberal on
the infrastructure side due to its key
requirement of employment generation and
absorption of infused stimulus packages into
the economy.
One should understand that all the stimulus
packages and infused liquidity will turn into
a high inflation scenario, if the funds are nit
consumed properly, on high employment
and high growth areas, like- Roads, Airports,
Railways, Power, Energy etc
We have collected multiple experts view and have
consolidated multiple data points to help our readers in
terms of getting a better market projections, post budget

3. So keep a watch on companies like - IRCTC, GAIL, NTPC, Power Finance .....and other premium
PSUs etc
On the other hand , the story of Electric Vehicle, Motor Components and engineering appears to
be the hero of the lot. A layman investor should learn more about the story of EV and try to
identify all the direct and in-direct beneficiaries in this segment - like- charging station
companies, motor making companies, Auto manufacturing companies etc. Of course this is going
to create a lot of buzz under auto sector . Do take advice from your broker /advisor to know more
on this .
We would like to highlight one key area, where we expect lot of action after the budget cycle -
Agritech ! This is a most important discussion going round in the economic forums, because they
believe this to be a major GDP catalyst of the year. There are hundreds of active companies which
are gearing up to take on this special opportunity in the filed of agriculture. One should
participate in such companies through selective Mutual Funds
Moreover , by the time vaccination
process will reach to its final stage by the
end of this year, business sentiments will
improve further.
Some experts believe that almost all
corporates have saved a lot on marketing
as well as human expenses during this
COVID crisis; rather they have learnt this
new art of Digital Business
communication ! They believe this savings
to translate in the corporate earnings -
mainly on the Mid and Small companies
.This opens the case for Midcap Fund and
Small cap funds under Equity investing.
Summing up, investors should not run
away from Equity, rather do a proper
rebalancing in terms of Sectors, Size
and fund type. Experts believe that
one should boldly invest in equities ;
however they also suggest that taking
the mutual fund route will be less
risky and more beneficial.
Disclaimer : The points presented here are the consolidated version of various experts input .
readers are advised to validate the points and figures on their own and do not take the
examples as our suggestion. Mutual Funds are subject to market Risk and you are advised to
follow the SEBI assigned Risko meter before investing in any schemes
ARM Fintech

4. Chapter 1 : Market Indicators - Page 5
Chapter 2 : BUDGET 2021 - Page 9
Chapter 3 : Investor's Centre - How to use
OTM for seamless investing ? - Page 12
Chapter 5 : Case Story - How Amit Tripathi
used SWP after his Retirement ? - Page 13
Chapter 6 : Questions & Answers - Investors
Questions - Page 16

5. MARKET INDICATOR
E Q U I T Y
A S O N 3 1 S T J A N U A R Y 2 0 2 1

7. MARKET INDICATOR
D E B T
A S O N 3 1 S T J A N U A R Y 2 0 2 1

9. K E Y H I G H L I G H T S
Atma Nirbhar Bharat Abhiyaan
Infrastructure and Urban
Development
Financial Reforms and more
M A R K E T R E A C T E D
P O S I T I V E L Y T O T H I S
B U D G E T
Presenting the Union Budget for 2021-22,
Finance Minister Nirmala Sitharaman said that
the Budget proposals for this financial year rest
on six pillars — health and well-being, physical
and financial capital and infrastructure,
inclusive development for aspirational India,
reinvigorating human capital, innovation and
R&D, and 'Minimum Government, Maximum
Governance'.
Read more to get the key highlights of the
budget 2021
UNION BUDGET 2021
BUDGET 2021
K E Y P O I N T E R S F O R R E T A I L I N V E S T O R S
S O U R C E : M O F W E B S I T E U P D A T E S

10. V e h i c l e s c r a p p i n g p o l i c y t o p h a s e o u t o l d a n d u n f i t v e h i c l e s –
a l l v e h i c l e s t o u n d e r g o f i t n e s s t e s t i n a u t o m a t e d f i t n e s s
c e n t r e s e v e r y 2 0 y e a r s ( p e r s o n a l v e h i c l e s ) , e v e r y 1 5 y e a r s
( c o m m e r c i a l v e h i c l e s )
H i g h w a y a n d r o a d w o r k s a n n o u n c e d i n K e r a l a , T a m i l N a d u ,
W e s t B e n g a l a n d A s s a m
N a t i o n a l A s s e t M o n e t i s i n g P i p e l i n e l a u n c h e d t o m o n i t o r
a s s e t m o n e t i s a t i o n p r o c e s s N a t i o n a l R a i l P l a n c r e a t e d t o
b r i n g a f u t u r e r e a d y R a i l w a y s y s t e m b y 2 0 3 0
1 0 0 % e l e c t r i f i c a t i o n o f R a i l w a y s t o b e c o m p l e t e d b y 2 0 2 3
M e t r o s e r v i c e s a n n o u n c e d i n 2 7 c i t i e s , p l u s a d d i t i o n a l
a l l o c a t i o n s f o r K o c h i M e t r o , C h e n n a i M e t r o P h a s e 2 ,
B e n g a l u r u M e t r o P h a s e 2 A a n d B , N a s h i k a n d N a g p u r M e t r o s
N a t i o n a l H y d r o g e n M i s s i o n t o b e l a u n c h e d t o g e n e r a t e
h y d r o g e n f r o m g r e e n p o w e r s o u r c e s
R e c y c l i n g c a p a c i t y o f p o r t s t o b e d o u b l e d b y 2 0 2 4
G a s p i p e l i n e p r o j e c t t o b e s e t u p i n J a m m u a n d K a s h m i r
P r a d h a n M a n t r i U j j w a l a Y o j a n a ( L P G s c h e m e ) t o b e e x t e n d e d
t o c o v e r 1 c r o r e m o r e b e n e f i c i a r i e s
Infrastructure
Key announcements in the speech, included some hikes in custom duties to benefit
Make in India; disinvestment proposal for two more PSBs and a General insurance
company; number of infrastructure spending budgets. Consequently, they believe
that the Fiscal deficit, which stands at 9. 5% of the GDP, will become 6. 8% in 2021-
22. Personal Income tax slabs remains unchanged
There is no change in the personal IT Slab. Best thing announced under this budget
is - "No IT filing for people above 75 years who get pension and earn interest from
deposits" . This will help a large mass of senior citizens and help them a lot. In
order to provide relief to old pending cases, reopening window for IT assessment
cases are now reduced from 6 to 3 years. However, in case of serious tax evasion
cases (Rs. 50 lakh or more), it can go up to 10 years

11. F i s c a l d e f i c i t s t a n d s a t 9 . 5 % o f t h e G D P a n d i t i s e s t i m a t e d t o
b e 6 . 8 % i n 2 0 2 1 - 2 2
P r o p o s a l t o a l l o w S t a t e s t o r a i s e b o r r o w i n g s u p t o 4 % o f
G S D P t h i s y e a r
A n U n i f i e d S e c u r i t i e s M a r k e t C o d e t o b e c r e a t e d ,
c o n s o l i d a t i n g p r o v i s i o n s o f t h e S e b i A c t , D e p o s i t o r i e s A c t ,
a n d t w o o t h e r l a w s
P r o p o s a l t o i n c r e a s e F D I l i m i t f r o m 4 9 % t o 7 4 % i n I n s u r a n c e
c o m p a n i e s
A n a s s e t r e c o n s t r u c t i o n c o m p a n y w i l l b e s e t u p t o t a k e o v e r
s t r e s s e d l o a n s D e p o s i t i n s u r a n c e i n c r e a s e d f r o m R s 1 l a k h t o
R s 5 l a k h f o r b a n k d e p o s i t o r s
P r o p o s a l t o d e c r i m i n a l i s e L i m i t e d L i a b i l i t y P a r t n e r s h i p A c t o f
2 0 0 8
T w o P S U b a n k a n d o n e g e n e r a l i n s u r a n c e f i r m t o b e
d i s i n v e s t e d t h i s y e a r
A n I P O o f L I C t o d e b u t t h i s f i s c a l S t r a t e g i c s a l e o f B P C L , I D B I
B a n k , A i r I n d i a t o b e c o m p l e t e d
E c o n o m y a n d F i n a n c e :
Government added some focus on easing out employment process in India, like-
portal to be launched to maintain information on gig workers and construction
workers, like any placement platform. A Social security to be extended to gig and
platform workers also. Margin capital required for loans via Stand-up India scheme
reduced from 25% to 15% for SCs, STs and women
There are multiple views on this budget announcement - some feel that this budget
lacks on many areas like- Women, Defence etc ; some feel that this is the best
budget under the given condition, when there is not much to spend
We strongly recommend our investors and readers to keep a balanced Asset
Allocation approach towards their investments. They must add SIPs under
Infrastructure Fund and keep decent exposure to Dynamic Asset Allocation funds.
Ask us for more clarification and details related to Budget 2021 ( See the contact
details at the last page of this News letter)

12. O T M ( O N E T I M E
M A N A D A T E )
It is simple to Set up an OTM
It is easy to use
It is 100% Safe & Secure
O T M I S T H E B E S T W A Y T O
I N V E S T O N L I N E
For investing in a mutual fund, you need to set
up a Mutual Fund trading account with your
distributor. Such accounts are powered by NSE,
BSE, CAMS etc, which provides the paperless
transaction facility.
While creating such accounts, you get an option
to create an ACH Mandate , also known as OTM (
One time mandate with your bank. There is no
limit for setting up such mandates - you can set
up such mandate according to your investment
size, like- if u intend to invest Rs 10 lacs at a go,
then you should create the OTM of Rs 10 lacs
limit.
MUTUAL FUND INVESTING
WHAT IS OTM ?
U S E O T M F O R S E A M L E S S I N V E S T M E N T S
S O U R C E : I N H O U S E

13. S Y S T E M A T I C
W I T H D R A W A L P L A N
It is the best investment
option for retired people
It provides Income plus
appreciation
It is highly liquid and can be
redeemed anytime
S W P P R O V E D T O B E A
B O O N F O R A M I T T R I P A T H I
A systematic withdrawal plan (SWP) is a facility
which allows you to withdraw a fixed amount
from your mutual fund at regular periodic
intervals. The periodic intervals could be
monthly, quarterly, half-yearly or annually, as
per the investor’s requirement. With every
withdrawal, the value of your investment in the
fund is reduced by the market value of the units
you have withdrawn as the withdrawal happens
at that day’s NAV (Net Asset Value).
Amit Trivedi , 74 Yrs , retired in 2005 from a
private firm. It was the best day of his life when
he met a mutual fund distributor, who
motivated him to invest a portion of his
retirement corpus into SWP ( Systematic
Withdrawal Plan)
POST RETIREMENT INVESTMENT STORY
CASE STORY
A M I T T R I P A T H I ' S I N V E S T M E N T S T O R Y
S W P ( S Y S T E M A T I C W I T H D R A W A L P L A N )

14. For example, assume that Mr A
has invested Rs 10 lakh in a
mutual fund and this grows to
Rs 11 lakh (10% growth). He
withdraws Rs 1 lakh from his
mutual fund at the end of each
year. Only 10% of his withdrawal
(Rs 10,000) is considered as
income and the balance (Rs
90,000) is considered as capital
withdrawal. On the other hand,
if he had invested in a bank FD
and got Rs 1 lakh interest on a
principal of Rs 10 lakh, the
entire Rs 1 lakh would be
considered as income and
would be taxable.
A SWP can also prove to be
more tax efficient because if it
splits your income over several
years. For example, both Mr. X’s
and Mr. Y’s total taxable income
for FY19 and FY20 is Rs.
4,50,000 without accounting for
their mutual fund capital gains.
For simplicity, let’s assume the
debt mutual fund scheme in
which both Mr. X and Mr. Y
invested earned monthly gains
of Rs. 10,000 throughout FY19
and FY20. While Mr. X chose to
opt for a monthly SWP and
withdrew the capital gain for 10
months starting October 2018,
Mr. Y chose to withdraw Rs.
1,00,000 in July 2019.
A SWP helps an investor get a fixed periodic amount which can help him/her
get a steady income in his/her retirement years or managing his/her child’s
educational expenses.Each withdrawal made through an SWP is considered
to be a combination of capital and income. Tax is only payable on the
income component and not the capital component.
As you know, SWP
automatically redeems
some mutual fund units
every month to meet your
monthly expenses,
regardless of market levels.
It thus, protects you from
withdrawing large amounts
due to panic/fear during the
times of market corrections.
It also withdraws money
even when markets are
registering new highs and
thus, protects you from the
impulse to invest more
money during boom periods

15. This SWP story of Amit Tripathi ji is very
inspiring for all the retired persons there,
who is looking for a regular withdrawal in
the range of Rs 650 to Rs 800 per month
and need some capital appreciation too .
However the key task here is to identify a
good Hybrid Fund and decide your
monthly withdrawal amount. Mind it,
SWP does not means any guarantee , it is
just a systematic withdrawal of
anticipated ROI.
Experts suggest that SWP should not be
selected in Equity funds, due to its high
volatility. One should always chose the
Hybrid , Asset Allocation or Multi Asset
funds.
Anil Tripathi invested Rs 30 lacs in a Hybrid Fund of SBI Mutual Fund - SBI
Debt & Equity Fund - Growth option in April 2005, and opted for a
withdrawal of Rs 800 per lac per month. This means he was withdrawing Rs
24,000/- ( twenty four thousand only) per month from this fund.
Given below is the actual investment summary of Mr Amit Tripathi, who is 74
now and is really proud of his investment decision which he took 15 years
back.

16. W H A T I S B H A R A T B O N D
F U N D ?
Bharat Bond ETF- aims to invest in bonds of
PSUs like PFC, REC, Power Grid Corporation of
India, National Housing Bank, IOC, National
Bank for Agriculture & Rural Development,
Hindustan Petroleum Corporation, NHPC, Export
Import Bank of India, Indian Railway Finance
Corporation, NTPC, Nuclear Power Corporation
of India etc.
Bharat Bond ETF will follow the taxation of debt
funds. The returns will be taxed at 20% after
indexation benefits. Indexation allows you to
adjust the purchase price of your investment for
inflation which in turn lowers the tax on your
returns.
Such Bonds are listed on Stock Exchange for
liquidity
MAHESH BHARTI,BHILLAI
I S I T G O O D T I M E T O
I N V E S T I N E Q U I T I E S ?
Some great person has said that " Timing the
market is not important but time is " . Most of
the wealth is created in equity through long
term stay, due to the very basic fact that
business always takes time to mature and
strengthen. So selling and buying a
business/stock frequently is not investing but
trading; you have to clearly chose your path -
trader or investor ?
So if you are an investor, go for a nice Equity
Mutual fund through your distributor and hold
it for a minimum of 3 -5 years; you will surely be
on winning side
PRAMOD JALAN, KOLKATTA
H O W M U C H T E R M
P O L I C Y S H O U L D I B U Y ?
Before buying any Life Insurance Policy you
need to estimate your actual Human Life
Value ( HLV) . This can be calculated by a
simple formulae -
(Gross Monthly expense of your family) x 100 x 12
__________________________________________________
Risk Free Interest Rate ( 7, 8 etc)
For e,g - if your family expense is RS 30000
per month then your HLV = Rs 45 lacs . So
you can buy a policy with Sum Asured of
around Rs 50 Lacs, in this case
ANKIT JUNEJA, LUCKNOW
Q & A
Y O U R Q U E S T I O N S O U R A N S W E R S
A L L A N S W E R S B Y O U R B U S I N E S S H E A D
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