'It is the Lok Sabha election which is really the focus of foreign investors. The budget clearly is going to be in the run-up to that,' said Allianz Global's Lucy Macdonald
In less than one week, the Narendra Modi government will announce its final budget for this term. Technically, it is a vote-on-account but indications are that the government may still make a match of it.
CNBC-TV18 brings you a bunch of top fund managers in its series, 'What the World Wants from India', to understand their expectations from the interim budget, which will be presented on February 1.
Latha Venkatesh caught up with one of the most seasoned India watchers Lucy Macdonald, CIO-Global Equities, Allianz Global Investors, to understand her view on upcoming 2019 general elections and the interim budget.
On her expectations from the budget, Macdonald said, "It is the Lok Sabha election which is really the focus of foreign investors. The budget clearly is going to be in the run-up to that.
On general elections, she said, "A non-NDA government may not make a big difference to the overall growth picture over the medium term, that tends to be pretty well set by the fiscal settings and the monetary environment."
However, Macdonald said it does affect the ratings by foreign investors.
"There is definitely a perception that a stronger government is going to help more with reforms and continue the strong growth that's been seen in India," she added.Source: CNBC-TV18