Budget 2021 Review - Counter-Cyclical Fiscal Policy With Focus On Reviving Investments: ICICI Securities
Indian rupee banknotes of various denominations sit in a cash register. (Photographer: Dhiraj Singh/Bloomberg)

Budget 2021 Review - Counter-Cyclical Fiscal Policy With Focus On Reviving Investments: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

As per the need of the hour, Union Budget FY22 delivered by being expansionary and provided a counter-cyclical fiscal policy with focus on reviving growth while ensuring adequate resources for tackling the pandemic by expanding the fiscal deficit to a higher than expected level of 9.5% for FY21 and 6.8% for FY22.

Key steps include mooting of a bad bank or asset reconstruction company and asset manangement company for taking over stressed assets, increase in foreign direct investment in insurance sector to 74% and Development Financial Institution for financing infrastructure projects, amongst others.

Click on the attachment to read the full report:

ICICI Securities Strategy Post Budget Feb21.pdf

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