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Below the Quote on Union Budget 2025 Expectations by Nilesh Shah, MD, Kotak Mahindra AMC

The budget is coming as the world moves from globalisation to protectionism, and tariffs are becoming an important part of the policy. The budget needs to be growth-oriented, with support for urban consumption through tax cuts, a subvention for the EMI burden at low and middle end of the pyramid, and incentives for private investment. The budget can’t afford to deviate from the path of fiscal prudence it has charted, as conservative management of the economy has differentiated us. Divestment, including strategic divestment of non-core PSUs, will help bridge the fiscal gap. 

The budget needs to invest in futuristic technology and provide ample resources for Indian entrepreneurs. Indians hold massive savings in Gold, mostly in the parallel economy. I request Honourable FM to think creatively about utilising these frozen savings to raise resources for futuristic investment. That step will be truly bring Sone Pe suhaga.

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