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Disappointing Budget, says Arvind Sethi

Just as the RBI has been 'bullet proofing' the external balance sheet we were hoping that the FM would take steps to do that for the governments balance sheet. In that context the budget was disappointing because it assumes a questionable growth rate, says Arvind Sethi, MD & CEO, TATA Asset Management.

February 28, 2015 / 07:00 PM IST

Arvind Sethi, MD & CEO, TATA Asset Management

"Just as the RBI has been 'bullet proofing' the external balance sheet we were hoping that the FM would take steps to do that for the governments balance sheet. In that context the budget was disappointing because it assumes a questionable growth rate, relies too heavily on divestment to meet fiscal targets, does not address the revenue deficit issue head on and leaves the good things for the future!!"

"From the rate cut point of view the budget is a little disappointing because they have not dealt with some of the fundamental issues of revenue deficit and still relying too much on divestments as the means of meeting the fiscal deficit. Inflation may continue to come down, but RBI may continue to go slow on rate cuts. We continue to expect rate cut of further 50 bps in 2015."

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