Budget 2022: Any effort to make the Indian market attractive in the budget will get thumbs up from the market – Sonam Srivastava

Budget 2022-23: Sonam Srivastava of Wright Research Had a long conversation with Moneycontrol on the upcoming budget, the country’s economy and the market. In this conversation, he further said that any positive surprise in the world of finance gives a boost to the market sentiment. On this basis, if the Finance Minister adopts a strategy out of expectation on fiscal deficit to promote growth in the upcoming Union Budget, then it will be a surprise for the market. Due to which there can be a tremendous jump in the market sentiment.

Talking on the market, he further said that in the fall of this week, Nifty has lost all its gains of the last few weeks. This fall in Nifty has been similar to the fall in other markets of the world. The hike in interest rates by the US Fed, tapering of the bond buying program and tightening of fiscal policy by the RBI, among others, have affected the market sentiments adversely. Apart from this, the company’s results so far have indicated pressure on margins and decline in rural demand, given that the possibility of further decline of 3-5 per cent in the market cannot be ruled out.

Talking on the budget, he further said that in view of the elections in the states like Uttar Pradesh and Punjab, if the upcoming budget will be more populist, which is not surprising. Due to the election season, agriculture and rural sector can be seen getting more focus in this time union budget. Apart from this, we can see increasing focus on schemes like MNREGA in this budget. Apart from this, the MSME sector can also appear in the priority list of the Finance Minister.

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