Moneycontrol
Jun 05, 2017 01:59 PM IST

Biggest thing about GST is the ultimate ease of doing business: Raamdeo Agrawal

The ongoing market bull run is on the back of liquidity which is driving market to new record highs almost everyday, said Raamdeo Agrawal, Co-Founder & Joint Managing Director, Motilal Oswal Financial Services on the sidelines of SOHN India conference.

2006-07 || This budget, for the first time, set a roadmap for a systemic tax overhaul by 2010. The reform billed as the most ambitious in independent India, was eventually rolled out seven years after the first target date. Which reform is this? Ans: Goods and Services Tax
2006-07 || This budget, for the first time, set a roadmap for a systemic tax overhaul by 2010. The reform billed as the most ambitious in independent India, was eventually rolled out seven years after the first target date. Which reform is this? Ans: Goods and Services Tax



The ongoing market bull run is on the back of liquidity which is driving market to new record highs almost everyday, said Raamdeo Agrawal, Co-Founder & Joint Managing Director, Motilal Oswal Financial Services on the sidelines of SOHN India conference.

At 13.54 hrs IST, the Sensex was up 57.47 points or 0.18 percent at 31330.76, and the Nifty up 28.25 points or 0.29 percent at 9681.75.

He further added that before Narendra Modi became PM, Indian equity market had taken a hit as outlfows were equal or more than inflows, and the moment Modi was declared as PM candidate, the whole tide turned from January of 2014. Since then there has never been a month net negative.

According to Agrawal, Goods and Services Tax (GST) will be a big game-changer and he also applauded GST Council for being very prompt and responsive [in following up with its observations, and fast-tracking the process].

He further said that "One must wait for it to roll out and let it settle down because come what may, one will have to adjust to the rates."

The biggest thing about GST is it is the ultimate ease of doing business, he added.

Agrawal advised investors to be disciplined and stick to their chosen path even at times of market volatility.

"Investors should not deviate from their chosen path regardless of market volatility. One needs to have vision, courage and patience in the market."

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