There is a 50 percent possibility of a tactical rally if the levies on Indian exports come off, Chris Wood added, calling them 'anomalous' and triggered by President Trump's 'personal pique' over the recent India-Pakistan dispute.
The Indian economy is expected to reach $4.187 trillion in nominal GDP in 2025, compared with $4.186 trillion for Japan.
The projected increase aligns with the government's strategy to enhance revenue generation while maintaining fiscal discipline.
India’s nominal GDP expanded 9.6% in FY24 from 14.2% in the previous year.
FM Sitharaman raised FY25 capex target by 11.1% to Rs 11.1 lakh crore, whereas, the fiscal deficit has been lowered to 5.1% from 5.8% in FY24
Budget 2024: The finance ministry, in the latest review, said it is "eminently possible for the Indian economy to grow in the coming years at a rate above 7 percent" given the strength of the financial sector.
Budget 2011-12 is just two weeks away and CNBC-TV18 learns that some products and services are likely to become dearer for the consumer since the finance ministry is considering a hike in some indirect taxes. CNBC-TV18’s Aakansha Sethi and Malvika Jain report.