01-02-2024 05:08 PM | Source:
Post Budget Quote by Hemant Kanawala, Senior Executive Vice President & Head Equity, Kotak Mahindra Life Insurance Company
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Below the post budget comment by Hemant Kanawala, Senior Executive Vice President & Head Equity, Kotak Mahindra Life Insurance Company
“The Budget is well grounded prioritising fiscal prudence and capital expenditure over consumption. Power sector including new energy, railways, defence and affordable housing are major areas of focus for capital expenditure . The focus on capital expenditure over consumption remains with 11% capital spending growth on high base of FY24. Fiscal consolidation remains top priority, targeting fiscal deficit of 5.1% for FY25 against 5.8% in FY24, which should augur well for Bonds. Lower interest rates should support current valuation of the market while earnings will be the main driver of market returns.”
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