By Gopal Agarwal, CIO, Mirae Asset Global Investments (India)
The Union Budget announced today seems realistic, credible and is a sincere attempt towards achieving fiscal consolidation. It focuses on measures that will enable broadening of the capital markets, facilitating corporates to access funds through External Commercial Borrowings and Infrastructure bonds.
There is a clear push towards propelling infrastructure development through reforms in sectors like roads, ports and power. We believe that the budget needs political consensus on big policy reforms for achieving the intended objective.
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