(Original title: Manuro Fund Division Jing: India discloses the annual budget, which is expected to enhance the confidence of external capital about the Indian market)
On February 1, 2014, Indian Finance Minister Neilmara Sitraman presided over a budget in India's 2024-22025 fiscal year.Although the budget is only a temporary budget, the final budget in 2024 will be finally introduced after the July election of this year.However, the market often finds the direction of government's attention and investment in the budget guidelinesJaipur Stock. Therefore, even if it is a temporary budget, it has certain reference value.New Delhi Investment
Shi Jing, Manager of Manilia's Indian Opportunity Stock, believes that there are two key points in the temporary budget: first, the Indian government plans to continue to rectify finances.In the past three years, the Indian government has greatly increased the expenditure of infrastructure projects in the fiscal budget. Coupled with the leverage of fiscal and leverage during the epidemic, India's deficit rate has reached 9.7 % in the fiscal year of 2020-22021.With the normal economic state after the epidemic, the Indian government has gradually intended to control the improvement of the deficit rate. The government set the deficit rate target of the fiscal year in 2024-2025 at 5.1 %, compared with the previous expectations.Udabur Wealth Management
Secondly, India continues to promote economic reform commitments.The Indian government continues to encourage investment to maintain the growth rate of capital expenditure.The budget continues to pay attention to supply -side reforms, especially the development of railways, electricity and renewable energy. At the same time, more expenditure is used in social promotion factors such as rural housing, hygiene and irrigation.
As for the impact on the market, Shi Jing said that it can be seen from two aspects:Udabur Investment
On the one hand, the Indian government continues to strengthen its deficit rate down means that the government's stability will increase, enhancing external capital's confidence in India, and helps attract foreign capital into India.Temporary budgets show that the financing plan of the new fiscal year has indeed declined, which will alleviate the upward pressure of bond interest rates, thereby reducing the government's financing costs, strengthening the Indian government's debt sustainability to a certain extent, and increasing the stability of the Indian rupee.
On the other hand, we expect that Indian bonds will also be favored by the world in 2024.Indian government bonds will be included in the emerging market bond index this year.According to calculations, when India is included in the global index, it will increase the inflow of institutional investors, which may cause an inflow of overseas funds of up to $ 500 billion.
Source of this article: Financial Report Network
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