Stage set for $5tn economy: Top 21 stocks that are likely to benefit from Budget 2019

Amid an economic slowdown, rural distress, falling demand and unemployment, a big package for infrastructure will certainly prove to be a shot in the arm.

Finance Minister Nirmala Sitharaman on July 5 presenting the Union Budget laid the foundation to build India a $5 trillion economy in the next few years.

Amid an economic slowdown, rural distress, falling demand and unemployment, a big package for infrastructure will certainly prove to be a shot in the arm. At the same time, the proposal to reduce the fiscal deficit to 3.3 percent of GDP to 3.3 percent from 3.4 percent is a welcome move.

“The Union Budget for FY20 was clearly a strategic budget with the emphasis placed on maintaining the long-term goals of fiscal consolidation and infrastructure creation,” B Gopkumar, ED & CEO at Reliance Securities told Moneycontrol.

The Budget also had plenty for the markets. “Moves such as government’s commitment to restrict fiscal deficit to 3.3 percent of GDP, opting for partial external borrowings, divesting stake in PSUs and recapitalising PSU banks and easing the liquidity stress for quality NBFCs sound comforting,” Sharekhan said in a note.

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