Views of Mr. Naveen
Mathur (Associate Director- Commodities & Currencies, Angel Broking) on Union Budget
"The NDA
government has presented an excellent, pragmatic and a balanced budget
indicating pro-growth measures by giving boost to the agriculture and
infrastructure. The direction and path for long term vision for the economy via
boost to these sectors will play a crucial role.
Accepting a task of
reducing fiscal deficit target to 4.1% of the GDP in the current year followed
by 3.6% for 2015-16 and 3% for 2016-17 indicates fiscal prudence and
consolidation through various policy measures.
 |
| Mr. Naveen Mathur, Angel Broking |
Commodities
derivative market is going through a bad phase with drop in volume from the
last one year. Large sections of the industry were expecting that this budget
will provide respite by rationalizing Commodities Transaction Tax (CTT), and
hence will provide positive flip for growth to these markets.
Markets were also
hoping for a reduction of import duty on gold since the CAD has declined
sharply partly due to measures taken by the government and the RBI. However,
the government instead adopted a wait and watch approach with no changes in
import duty structure defying market expectations. All and all this budget
gives us the hope for a bright future of our country tomorrow...."
Angel Research
Corporate
Communications
Ackruti Star, 6th
Floor,
MIDC, Andheri (E),
Mumbai – 400093
Main : 022 - 393576000 (Ext-6956)
Website : www.angelbroking.com
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