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Kotak Mahindra Asset Management’s Managing Director, Nilesh Shah was all praise for the 2019 Union Budget. When asked why, he said that in his opinion, three things stood out – the first being the strategic divestment of PSUs (Public Sector Undertakings), which he feels is a positive sign. The second being the government’s intent to cut stake below 51% in non-finance PSUs on case-by-case basis, and that government-owned entities will also be considered in that 51% bracket.
He further added that if the government opens our doors to Foreign Direct Investments through a sovereign bond issue, and an eventual roadmap if we are getting into emerging market bond index, then that straight away opens up between $75-100 billion of capital flows.
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