Not Wise To Expect Anything In New Govt’s First Budget. Budget is most comprehensive action plan. Budget is a beginning of journey to return to 7-8% growth. The country is in no mood to suffer lack of basic amenities, apathetic governance: Finance Minister
The Sensex is now trading over 400 points higher at 25891 and the Nifty is up 140 points at 7725.
Finance Minister has made significant allocations towards infrastructure projects in the country. The allocation of Rs 37,850 crore into the National Highway Authority of India will result in vastly improved road networks, which will in turn result in new vibrancy in the real estate sector.
Sensex has recovered from the day’s lows, it is up 283 points at 25734, the Nifty is up 94 points at 7861.
The finance minister promised to meet a fiscal deficit target of 4.1 percent in FY15 and retained the fiscal deficit target for FY17 at 3 percent.
The government has increased FDI in defence to 49 percent to increase local indigenous production and save precious foreign exchange. These measures will reduce current account deficit in the long run. This should lead to the currency remaining relatively stable in the long run as current account deficit will be at manageable levels. Overall, the government has given a roadmap which it intends to work on over the next five years and increase the supply of goods and services in the economy,” said Murthy Nagarahan, head-fixed income, Quantam Asset Management.
Dalal Street cheers the Budget: Markets, which tanked during Mr Jaitley’s speech, are up