India: Union budget for 2019 in focus today - TDS

According to analysts at TD Securities, India presents its Union budget for 2019 today, with new finance minister Sitharaman is likely to be pro-growth.

Key Quotes

“The government is likely to revise its borrowing target slightly higher for this year and next, with a high probability that the deficit target likely to be revised higher to 3.5% for the current fiscal year from 3.4%.”

“Next year’s target may also be revised higher from 3.0% currently. Measures to boost jobs, improve infrastructure bottlenecks, tax cuts will likely be included in the budget announcement as the government moves to revive activity.”