Anil Ghelani says: The budget announcement on a prudent gliding down of fiscal deficit has led to a sharp drop in yields in the fixed income space. This is positive for the bond market, and various sectors, including renewable or green energy, are likely to benefit. While sustainable growth will lead to higher consumption, to ensure a specific boost to consumption many measures are focused on the rural economy, leading to a direct boost in rural consumer demand.
The finance minister s brevity in the announcement reflects the clarity in India s vision statement going forward. The confidence in the finance minister is backed by the success of government programmes, rising per capita income, and emphasis on infrastructure investment. The PSU sector will benefit from the efficiency of public sector companies, their business potential, re-rating, investments in ROI and technology, and their support to the government. The divestment target of Rs 50,000 crore indicates further opportunities for the PSU space.
Shyam Srinivasan characterizes the budget with three Cs: commitment, consolidation, and confidence. He notes that the finance minister spoke of the trinity of diversity, democracy, and demography. The budget reflects a focus on creating an environment for ease of doing business and unlocking innovation. The allocation of funds for investment in innovation and infrastructure development indicates a broad-based approach
Founder of Macro Mosaic Investing, Maneesh Dangi, believes that the government s budget this year is primarily focused on the bond market. The government s efforts to lower fiscal deficit and create a favorable environment for bonds are likely to lead to a significant rally in the bond market over the next one to two years. However, Dangi notes that the impact of this rally on equity markets will be limited, as high-growth sectors tend to be sluggish during bond market rallies.
Mahesh Nandurkar says: "If one assumes that the same set of people will be presenting the next one, it would be very difficult to deviate from the February budget. So, I never took this budget lightly, I always looked upon it as the budget, maybe some small tweaks can happen here and there, but I think the broad pathway that would be set out in this budget would be the one that would continue post elections as well, so that is the first point. "