Union Budget 2016 -
Reactions from Mr. ArunaGiri, Founder, CEO, TrustLine Holdings
The views of Mr.
ArunaGiri, Founder, CEO, TrustLine Holdings on the Union Budget 2016 presented
today by the Finance Minister.
Union Budget :
Purpose driven,
Execution is the key
Broader theme that
runs across the budget is the heightened focus on rural recovery, rural
infrastructure, social security and investment spending. PM’s imprint is
visible across. Be it crop insurance, health insurance, unified e-marketplace
for agri commodities or focus on improving farm income etc, they are all pet
themes of PMO.
To that extent, it
is a purpose driven one and directionally very positive. At the end of the day,
Budget is a statement of intent. The real difference comes in execution. On
that, there is hope going by the current administration’s track record on
seeing thro’ initiatives to the logical end.
By sticking to FRBM
target of 3.5% fiscal deficit for FY17, Govt. has sent out a very strong message
on fiscal consolidation. Bond markets cheered the outcome by rallying sharply.
RBI will now take the baton and provide much required rate cuts for the
economy.
For the market,
budget will be forgotten in few days and it will start tracking global cues. It
is an event out of the way now for the markets.
Having said that, no
change in Longterm capital gains tax regime was a big relief for investors. To
sum up the effect on the markets, it is this :“No Negatives - a Big Positive”
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