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Last Updated : Jul 05, 2019 10:36 AM IST | Source: Moneycontrol.com

Budget 2019: Push on reviving consumption and investment, says Sandeep Bhatia

Bhatia has noted that India has the potential to be largest and fastest growing economies of the world.

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The biggest push that the budget should provide is toward reviving the consumption and investment cycles, said Sandeep Bhatia, Head of Indian Equities – Macquarie Group, to CNBC-TV 18.

Bhatia has noted that, with the interest rates and growth going down globally and the friction seen in China’s growth, India has the potential to be the largest and fastest growing economies of the world.

When asked about how the markets will react if India breaches its fiscal deficit target of 3.4 percent of the GDP, he said, “Some kind of miss is not something that market will be perturbed about. I think the market is okay if there is 20 bps slip.”

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“I think that we should be looking at not just the number, but how the number was attained.”

“I would go long on PSUs and quality private sector banks after the budget,” he said, when asked about which stocks he would recommend going long on.

Commenting on the upcoming earnings cycle, he said, “I don’t expect the earnings season to be stellar, or for the rest of the year.”
First Published on Jul 5, 2019 10:36 am
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