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Demonetisation, GST to make economy more efficient, compliant: Reliance MF

IANS  |  Mumbai 

Going forward, along with the Goods and Services (GST) will make the economy more efficient and compliant, Mutual Fund's CIO (Equity Invest) Sunil Singhania said on Tuesday.

"brings a lot of efficiencies in the system and moves sales from unorganised to organised platform, reduces evasion. Going forward, along with the GST, we will have more efficient and compliant economy," Singhania told BTVi in an interview.

He, however, expects earnings per share will rise in the near future.

"The last 2-3 years have been flattish as far as EPS growth is concerned. The EPS growth has got delayed. As we move to FY 18 and FY 19 onwards, we are looking at 15-18 per cent EPS growth," he said.

Elaborating on the world economic situation, Singhania said not so robust world would be blessing in disguise for India as the country is the importer of inflation in terms of commodity and oil prices.

In terms of expectation in rate cuts, Singhania, said looking at the Reserve Bank of India stance and the statement of the apex bank, it looks rate cut is tough to expect in the near term.

Speaking on the BJP's victory in Uttar Pradesh and Uttarakhand assembly elections, Singhania said "margin of victory (of BJP) has come as a positive surprise for the markets" and it might help the central government to persuade the economic policies aggressively.

"India has seen lot of reforms. The most important reform which is due is the Most of the reforms are in place. We need to focus on execution and in the next 1-2 years that would be the focus of the government," he added.

Talking about the impact on IT (Information Technology) stocks over US President Donald Trump hardening his stance over visa, he said, "In IT, India has the global competitiveness. The Indian government, IT Ministry and Nasscom have already started discussion with US counterparts to ensure that there should not be aggressive steps against the Indian IT industry. Hopefully, this will be resolved."



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 14 2017. 22:04 IST