Sensex up over 800 pts, shrewd near 17,550 after Cheers budget announcements

Union budget 2022 | Major economic policy correction, overdue consumption, says Ajay Srivastava

Ajay Srivastava, CEO of Dimensions Corp Financial Services, said it was important to have an economic policy correction as consumption is suffering in the wrong direction. “I think it’s an important budget in that there is a political pivot given that the elections are coming up. I think that’s an important point that will make the pivot go from capex to growth rate led by companies to say, let’s reduce the tax on the prices of gasoline and other petroleum products, and give the money to people at all levels…that they spend the money, which will convince the companies to come and invest,” he said.

“For investors, I don’t think you’ll be surprised by anything big happening by the March quarter. So if you want to invest, you have plenty of time to invest in the market. In our opinion , there’s no hurry, because for the next 90 days or so you have time to figure out which companies are doing better or worse and then invest in. This can run away with the Federal Reserve , but fundamentally, I think you’re in an area where you have time on your side. It’s not with businesses,” he added.

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