In contrast, the Centre’s fiscal deficit stood at 3.5% in FY18 and 3.4% in FY19, mainly bec-ause it had to step up spending to boost growth in the absence of private investors.
Kotak Securities expect net profits of the Nifty-50 Index to grow 15% in the current financial year FY2020, down as compared to 24% at the beginning of the results season.
