Last week India had the much anticipated and hyped financial budget 2017. My initial reaction is the budget was practical (not populist despite elections around the corner) and paved the path for job creation. Given the sluggish private sector investments the Govt needs to step on the gas and invest for the future. I firmly believe the growth pause cause by demonetization is behind us as we see pick up in sales for vehicles, mutual funds, insurance policies, oil etc. I must confess some sectors run through the parallel economy would need to change their operating model to start complying with the laws and taxes. With GST in the anvil and lower tax rates for SME I do see tax collections to be robust and compliance to be even better.
Globally the Dow crosses 20000 and Nifty is headed to 10500 obviously with a few bumps which would be good buying opportunities.
All set for the all important UP elections which would give a good sense on future pace of reforms.
Globally the Dow crosses 20000 and Nifty is headed to 10500 obviously with a few bumps which would be good buying opportunities.
All set for the all important UP elections which would give a good sense on future pace of reforms.
No comments:
Post a Comment