The commentary on the budget has had a more positive impact on the bond market compared to the stock market. The unexpected drop in yields has cheered the bond market. The fiscal deficit number of 5.1% has exceeded the debt market s expectations. The lower net borrowing program and the possibility of rate cuts in the second half of CY24 have given confidence to the market. The capital expenditure target for this year has been revised down to 950,000 crore, but there is still a 17% increase compared to last year.
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Editor's Note: The government has set the economic growth target for this year at 5.5 percent. Three economists discuss the paths of China meeting this "relatively ambitious" target.
Editor's Note: The government has set the economic growth target for this year at 5.5 percent. Three economists discuss the paths of China meeting this "relatively ambitious" target.
Editor's Note: The government has set the economic growth target for this year at 5.5 percent. Three economists discuss the paths of China meeting this "relatively ambitious" target.