Budget proposals bring in some incremental comfort, says Abhinav Khanna

The intended increase in public float to 35 per cent from 25 per cent currently should help boost liquidity in the stocks which fall in that category

Despite the sharp run up seen in the domestic markets, which was mostly aided by foreign flows, ABHINAV KHANNA, head of equity at Citi India tells Puneet Wadhwa that foreign investors remain constructive on India from a medium-to-long term perspective and the Budget proposals are likely to reinforce this view. However, the absence of an immediate growth stimulus or any major ‘pump-priming’ in the Budget proposals, he says, has disappointed growth-oriented investors. Edited excerpts:
 

What are your key takeaways from the Budget proposals? What are the ‘hits & misses’?

The Budget strikes a good balance between growth support, fiscal consolidation