BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
We see the FY23E Union Budget being 'fiscally prudent' as well as 'growth supportive'. We expect the government to continue its growth agenda via higher capex allocation, which will accelerate the investment cycle and employment.
We also expect fiscal conservatism approach to be back gradually keeping in mind the likely inclusion of India in the global bond indices. With buoyancy in tax revenues, relatively contained spending and higher nominal gross domestic product growth, we expect fiscal deficit to be contained at 6.3% versus budget estimate of 6.8% of GDP for FY22E.
With a goal to reach a $5-trillion economy by FY25E, we expect capital expenditure allocation to continue to remain higher for FY23E as well while healthy tax revenues and mega disinvestment pipeline may help contain fiscal deficit to ~5.0%.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
RECOMMENDED FOR YOU
POPULAR