Aashish Kamat, Managing Director and Group CEO, UBS India says,"I think the next big trigger will be Reserve Bank of India's monetary policy and GDP growth rate. I expect RBI to cut interest rates by 25 basis points, if inflation data doesn't sees an uptick. Regarding GDP, I think any figure below 5-5.5% will result in sell-off."
Finance Minister in his Union Budget 2013-14 speech laid focus on social schemes while tackling the core issue of fiscal deficit and current account deficit that is crippling growth in Asia's third-biggest economy.
"I don't think it was populist in anyway as he did not go overboard on subsidy or social schemes. The Budget had a very balanced tone to meet the challenges of fiscal deficit which was brought down to the expected level of 4.8%. "
