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LORD JESUS CHRIST SAYS

“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened. Matthew 7:7-8

4 Mar 2016

STOCK MARKET- BUDGET 2016- ANGEL BROKING VIEW.

The Union Budget 2016-17 cheered investors with its decision to stick to fiscal consolidation targets. With fiscal deficit to be reigned in within 3.5% of GDP for FY 2017, inflation is expected to remain under check. This would allow the RBI to reduce interest rates further, which would act as a major catalyst for the economy and earnings going forward. We believe the FY 2017 estimates are highly realistic, with growth in tax revenues estimated in line with expected growth in nominal GDP (~11%). Foreign investors would also be enthused by the various measures announced to eliminate tax distortions and improving ease of doing business. Overall, it is a positive budget with the government maintaining strong thrust on rural and infrastructure spending and accommodating the additional expenses for the pay commission recommendations, without violating the fiscal deficit targets. We believe this fiscal discipline will be positive for the markets going forward.

1 comment:

  1. Foreign investors would also be enthused by the various measures announced to eliminate tax distortions and improving ease of doing business.
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