Budget 2018 builds on demonetisation and GST: Kapil Wadhawan, Wadhawan Global Capital chief

Tarun Sharma Moneycontrol

Kapil Wadhawan, Chairman Wadhawan Global Capital, feels the Budget has given a boost to the agriculture sector. He also termed the Finance Minister's promise to bring down fiscal deficit to 3.3% next year a "credible and realistic step." Here are edited excerpts from an interview:

What is your take on the Budget?

There is robust outlay for the agriculture & rural economy. Healthcare, affordable urban housing, infrastructure and education have also received significant impetus.This Budget continues to build on some of the large initiatives rolled out last year like demonetisation and GST implementation.

What are your views on fiscal deficit?

The government's promise to bring it down to 3.3% next year is a very credible and realistic step.

How do you see the Budget from the perspective of low-cost housing and rural sector?

The government’s attempt to broaden the tax base in India and developments to improve transparency and efficiency in the system are key positives in this Budget. The proposals to increase spends in rural areas, low-cost housing, poverty alleviation as well as the agricultural sector should provide a growth stimulus to the Indian economy.

How do you see investment in mutual funds as an asset category after the LTCG decision?

I don’t think there will be a major impact on long-term investment since our country’s growth is intact. Post demonetisation, we have seen  tremendous mobilisation of savings in financial assets like mutual funds. This Budget continues to build on some of the large initiatives rolled out last year aimed at making the economy more clean and transparent.