Ashishkumar Chauhan, MD & CEO, NSE, reacts to Union Budget

Ashishkumar Chauhan, MD & CEO, NSE, has expressed his views to the Union Budget tabled by the Government of India. He said, “This is a growth-oriented budget, one of the best in years, with a focus on both infrastructure and job creation, while reducing income tax for pretty much everyone, and lots of money to states. The fiscal deficit has been reduced from 6.4% to 5.9% of GDP, with a clear path to reach 4.5% in next three years. The focus on infrastructure, as seen in the rising capex outlay from Rs7.5lakh crore to Rs10 lakh crore, combined with PM Gati Shakti and this Government's ability to execute, would be visible through roads, railways, ports and airports and would translate into demand for basic materials like cement and steel on one hand, and consumption goods from all sections of the society, jobs on the other. The Budget would support growth and the Indian consumption story, keep us in good stead, given global headwinds in China and developed markets, and until the rest of the world eases. Before the budget was presented, investors worried about a rise in capital gains. No change there, has also created a positive reaction. Overall this is a very positive budget for the markets, with something for everyone. I give the budget 10/10.”