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Mar 10, 2011, 12.27 PM IST
Vallabh Bhanshali, Chairman, ENAM Securities Pvt Ltd, says that FM has done a great justice to his image as a pragmatic person. "I think he has succeeded in fighting all the populist forces," he says.
I think FM has succeeded in fighting all the populist forces and it's not a populist budget.
Vallabh Bhanshali ENAM Securities Pvt Ltd Chairman
Vallabh Bhanshali, Chairman, ENAM Securities Pvt Ltd in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
He said that the FM has done a great justice to his image as a pragmatic person. “I think he has succeeded in fighting all the populist forces,” he added. He also said that his main concern was to know how populist the budget will be rather than how reformist it will be because that was the big pressure for the day. Below is a verbatim transcript of his interview. For the complete details watch the accompanying video. Q: What do you make of it, do you think the fiscal promise is good enough, you will be able to keep 4.6% for next year or is it just a promise which he will find difficult to deliver on?
A: I think it’s a question that we all are struggling with but before I raise that I must say that Pranab Mukherjee has again done a great justice to his image as a pragmatic person. As I started to listening the budget my concern was how populist it will be rather than how reformist it will be because that’s the big pressure today and I think he has succeeded in fighting all the populist forces and from that point of view as you said the budget is unfortunately becoming more and more TRP event than GDP event and to that extent I am quite happy with what he has done.
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