How Did the Market Respond to Budget 2019? Manish Chokhani Answers

Manish Chokhani said that the Budget made the “right noises, especially when it came to strategic disinvestment”.

Market expert and ENAM holdings’ director Manish Chokhani

(Photo: The Quint)

Video Editor: Varun Sharma

Market expert and ENAM holdings’ director Manish Chokhani, while discussing the impact of the 2019 Budget on the share market said that it made the “right noises, especially when it came to strategic disinvestment”.

He further added that the government has left the door open to sell maximum public sector shares to recover money.

The equity market on the other hand is hopeful that there will be influx of foreign capital into the country.

However, investors aren’t happy that Income Tax levied on income above Rs 5 crore has now been increased to 42-43% percent. He also said that it is unlikely that retail investors would be ready to invest in government bonds.

Furthermore, Chokhani said that this government is trying to attract a zero percent interest scheme which is prevalent in other countries.

But on the topic of the NBFC crisis, he said that the crisis cannot be solved overnight, but is a process which will happen eventually.