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What mkt wants: Top fund managers’ expectations from Budget

Discussing the upcoming Union Budget this week, CNBC-TV18’s Menaka Doshi sat down with some of India’s top investment managers to gauge what they expect from it

Discussing the upcoming Union Budget this week, CNBC-TV18’s Menaka Doshi sat down with some of India’s top investment managers to gauge what they expect from it: HDFC AMC CIO Prashant Jain, Reliance MF CIO Sunil Singhania, Axis Capital  CEO Dharmesh Mehta, Birla Sun Life AMC CEO A Balasubranian and Axis AMC CMD Chandresh Nigam.

Saying he expected the Finance Minister Arun Jaitley to push through an investment-led budget, Singhania said the conditions were perfect because the government had “enough money” to be put to productive use.

The government should look to further up its revenue mobilization such as by increasing its divestment target, Mehta said.

Subramanian further went on to say that the market won’t be disappointed even if the government were to miss its 3.6 percent fiscal deficit target for the next fiscal provided money was spent on making “productive investments”.

But an absence of an investment-led budget would set up room for disappointment. It may also read to a correction in stock markets that have remained largely buoyant ever since the government took power last year, cautioned Nigam. He added that the government should look to increase its capital expenditure by about 25-50 percent.

While Jain that said that more than spending money, the government should look at create an enabling framework for greater investments to come in. Towards that end, he said the government should look towards boosting the roads and power transmission and distribution sectors.

Watch the video for the complete discussion.

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