Markets will keenly watch the execution of capex plans: Abhiram Eleswarapu

Markets have given a thumbs-up to most of the Budget proposals. Despite the rise in headline rates, ABHIRAM ELESWARAPU, head of India equities at BNP Paribas, tells Puneet Wadhwa in an interview that he expects real rates to remain negative for most of 2022. These conditions are good for equities. Edited excerpts:

What is your interpretation of the Budget proposals?

With this Budget, the government has decisively prioritised long-term investment over subsidies and employment guarantee schemes. There is a significant emphasis on physical infrastructure. 5G spectrum auction could follow in FY23 along with plans to extend the optic fiber network even to