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Lack of detail, vision: Saurabh Mukherjea

Business Standard 

Saurabh Mukherjea

It is encouraging to see the FM sticking to his predecessor's FY15 target of 4.1%. But it is not clear how this target will be reached due to the higher outlay, without any significant increase in revenues . Our math suggests an overshoot of 0.3% points.

Also, while the FM acknowledged the need for recapitalising PSU banks, his speech did not provide any specifics on where the around $50billion for such a recap would be procured. It is good to see limits in the defence and sectors being hiked to 49%. The FDI, in particular, is bound to be accompanied by multi-billion dollar inflows into the country over the next couple of years


Saurabh Mukherjea
CEO, Institutional Equities, Ambit Capital

First Published: Fri, July 11 2014. 00:06 IST
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