Debt levels have escalated globally: Manish Chokhani
"Whichever government comes to power, India stays decisively Left of Centre," said Chokhani.
April 18, 2019 / 03:38 PM IST
Manish Chokhani, director of Enam Holdings, spoke to CNBC-TV18 about the general elections 2019 and its impact on the stocks.
According to Chokhani, "Irrespective of the colour of the government that comes to power on May 23, there would be benefits for the economy because the foundation has been set for a number of things."
"The foundation for a stronger economy has been set for the next government to optimize on but the world is now a scarier place than it was because the debt levels in the world have reached ultimate limits, he said. For example, the Central Bank of Japan now owns 50 percent of the stocks in the country, they are top 10 shareholders", he added.
Talking about the economic policies, Chokhani said, "Whichever government comes to power, India stays decisively Left of Centre. Most policies are oriented towards the poor because that is where majority of votes come from. So, even when you say these are political leaders, they are followers- followers of trends. They follow what the voting public says and what we demand as a country."
With regards to earnings, he said, "If you aggregate the earnings, 25-26 percent is the banking and financial sector, 20 percent is IT and about 30 percent is materials and this will not change."Source: CNBC-TV18