Fiscal prudence signals commitment to macro-economic stability

Milind Barve, managing director, HDFC Asset Management Company Limited.

''Fiscal prudence in the budget signals a commitment to macro-economic stability. This will also open up space for monetary easing in the near future which is positive for the rates market. Various measures for resolution of tax disputes will pave way for lower outstanding tax litigation. Combination of consumption push (7th  Pay Commission and rural economy) and continuous focus on capex by the Government should see higher growth next year.
Welcome relief on Service Tax for small distributors earning less than Rs. 10 lacs.''