In response to which sector you are bullish after the budget, Rahul Vuskute said that I am bullish in the financial, infrastructure, industrial and auto sectors.
Analyzing the Union Budget presented by the Finance Minister on February 1, 2022, Rahul Vuskute, Chief Investment Officer, Bharti AXA Life Insurance, said that the government has tried to strike a balance between growth and financial discipline. The revenue deficit estimate for 2023 has been reduced to 6.4 per cent from 6.9 per cent for FY 2022. On the other hand, no major decisions have been made in this budget to include the bond index and push the ruling economy. If the government had decided to include a bond index, all questions about the government’s ability to raise debt for spending would have been answered.
He further said that after receiving continuous guidance in this regard, the market now wants more precise progress in this regard. He said this year’s budget is an extension of last year’s budget. In the last budget, the government has been seen to focus on growth rather than financial discipline. This year’s budget has also confirmed this position of the government.
In this budget, Rs 7.5 lakh crore has been allocated for Capex for the financial year 2023 with an increase of 25 per cent on an annual basis. Due to which it seems that the government wants to take the responsibility of launching Capex cycle in the country automatically. In the context of the budget, he said, this year’s budget has emphasized on long-term structural growth. In addition to strengthening infrastructure, the budget emphasizes increasing investment in digital and technological resources, which is crucial for an emerging economy.
In response to which sector you are bullish after the budget, Rahul Vuskute said that I am bullish in finance, infrastructure, industry and auto sector. It can be seen that these sectors are benefiting from the provisions of the budget. These industries will benefit from the government’s large capital expenditure plan. The auto sector will benefit from the government’s increased focus on electric vehicles.
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Giving his views on the investment program set for 2022 in the budget, he said that in FY 2023, the government has set an investment target of Rs 65,000 crore, which can be achieved from our perspective. The revised target of Rs 78,000 crore for FY22 is also reasonable as it includes potential partial investment of LIC. It is commendable that the government has kept its goal close to reality.