Budget 2017: Lauding Finance Minister Arun Jaitley for presenting a Budget that has cheered the markets, Rashesh Shah, the Chairman and CEO of Edelweiss Group has said, “Markets are now waiting for a hattrick.” In a big thumbs up to FM Jaitley’s Budget speech, the BSE Sensex surged nearly 486 points to close at an over 3-month high of 28,142.
Speaking at a post-Budget 2017 session organised by FICCI, Rashesh Shah said that the markets were up after the Budget two years in a row. “The box office has spoken twice in a go,” he said, metaphorically linking markets to the box-office collections. “With the Budget next year, markets are now waiting for a hattrick,” he said. Praising Modi government for focusing on the qualitative aspect of things, Rashesh Shah said, “This government clearly means business, and more importantly clean business.”
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Rashesh Shah is also the Senior Vice President at FICCI. “We at FICCI have for long spoken of the need for a clean, stable and enduring business environment,” he said.
FM Jaitley on February 1 presented the Union Budget for the fiscal year 2017-2018. The Budget largely focused on increased public expenditure, especially in the rural areas and on infrastructure. Industry analysts and markets have largely given a thumbs up to the Modi government for its Budget. The Union Budget was special this year, not only on account of the fact that it was preponed, but also for the government’s move to combine the Railway Budget as part of the main Budget.