Union Budget is growth-oriented, positive: BSE MD

The Union Budget for 2019-20 is growth-oriented, uses a variety of methods to bolster investment cycle led by government spending and overall is positive, BSE MD & CEO Ashishkumar Chauhan said.

The budget has outlined several new reform initiatives like big privatisation push, relaxation of norms for foreign portfolio investors, further liberalisation of foreign direct investment (FDI) policy, a new policy on rental housing and most importantly, incentives for faster adoption of next generation technologies such as electric vehicles, he said.

In a report titled "Union Budget 2019 - A Blueprint for a USD 5 trillion economy", Chauhan said, "The Budget advocates policies via four pillars of thrust that can push the Indian economy to a level of USD 5 trillion - in sync with Prime Minister Modi's vision."