Union Budget 2015: It's net-net positive Budget; mkt fall immaterial: Religare

Menaka: I am taking a very short to medium term view. I understand the long term is good, we have milestones, we have direction, nobody is complaining about that. I am saying 12 months, does this change your viewTrivedi: (Interupts) What you are saying is absolutely right that this Budget really has not done that much for domestic consumption or to revive the domestic consumption It has probably done a little bit negative as well because they have increased the service tax and I do not see any significant way where consumers are going to come back and start spending and to that point on the capex side – in fact recently I was having a conversation with an FI and one of the things we discussed really on that was that there is no reason for incremental capex even in the next 12 months because capacity utilisations are only 60-65 percent. So, why on earth would anybody put up incrementally more capacity but if we do not revive demand and bring the consumers back in the market.Menaka: (Interupts) That is the problem that plagues Make in India as well?Trivedi: I am not disagreeing with you but the short term is that, the long term though Menaka: (Interupts) I get the long term view, I am saying your earnings expectation for FY16, does that change in any way because of what has happened today and therefore your expectations on where markets will head?Trivedi: No, it does not but there is a strong-there is no link between earnings and the way the market is going up because it is money flow, it is an avalanche of money from foreigners and domestics and that is going to keep continuing, I don’t see any slowdown in that.