Mr. Rajat Jain, Chief Investment Officer, Principal Mutual Fund on Budget 2019
“The budget continues its focus on infrastructure growth in areas of water, roads, affordable housing and railways and has provided for substantial spends in this space. There is an effort on further improving ease of doing business and raising resources, esp . from the offshore markets to provide for growth. The key question facing the economy is the growth slowdown and market expectations were for specific steps that could be taken in this regard. There is a bit of disappointment here from an initial reading of the speech. The shifting of NBFC governance to RBI is welcome along with the provision of partial credit enhancement. The details of proposal to increase public shareholding to 35% would be awaited as it could lead to increased supply of paper while at the same time increasing India’s weight in global indices.”
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