The India budget & the Reserve Bank of India
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Listen to Ashwin Patni, Fund Manager and Head of Product, Axis Asset Management, comment on the recently announced India budget, RBI monetary policy and prospects for the market going forward.
- Announced budget is supportive of reducing inflation and fiscal deficit, while promoting capital spending
- 3.2% fiscal deficit target would be close to the lowest an Indian central government has run over the last 20 years
- RBI has steadily reduced inflation and now has a formal target of 4%
- Demonetisation, GST implementation and key state government elections are likely to cause Indian market volatility over six months but structural changes support a positive long-term outlook