QUOTE BY Mr. VINOD NAIR, HEAD OF RESEARCH, GEOJIT BNP PARIBAS, ON UNION BUDGET 2014-15
It is a very good
budget as a new step by the new government, over the near-term we are likely to
see change in existing norms.
The maiden budget
comes amid very high expectations from both general mass and industry.
Considering the huge
mandate it has lot of populist expectation, growth and fiscal consolidation.
The markets have
mirrored this enthusiasm gaining 35% since September 2013, but post election,
market has done 14 % since May 9th to July 9th. But since rail budget,
factoring cautious voices, market was flat expecting corrective action.
Considering this, the
market is not very high. The first voice by the new government clearly
indicates growth & fiscal consolidation and that tells we are in a bull run
for a long time.
The new budget is clearly
positive in terms of lower individual taxes, positive for many sectors like
Infra, Power, Realty and reviewing subsidy.
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