22 Sep 2018 | 4:01 AM
Research Report

Equity Research Report: Budget update 2015-16

The first budget of the Modi govt. has done a commendable balancing act. Though it did not have any big bang announcements against the high expectations, it had a clear road map for the near term which was a big positive. The larger theme of the budget was focused on reviving the investment cycle with a thrust on infrastructure, road map for the near term (GST rollout by FY17, 3% fiscal deficit target by FY18 and reduction in corporate taxes to 25% by FY19) and trying to convert the parallel economy with a slew of measures over black money. We had already men-tioned in our preview report that the expectations were very high and the govt. was working with a tight leash. Under these circumstances we feel it is a pragmatic budget focused on growth, the transformational impact of the steps taken would be visible over a longer period of time.
02 Mar 2015 | 03:45 PM