Modi government should focus on economic growth, rural consumption: Taher Badshah, CIO, Invesco Mutual Fund
It is now clear that NDA has retained power and prime minister Narendra Modi will take office for the second consecutive term. The new government has a long list of tasks in hand, starting with providing the much-needed boost to the Indian economy, believes Taher Badshah, CIO, Invesco Mutual Fund.
It is now clear that NDA has retained power and prime minister Narendra Modi will take office for the second consecutive term. The new government has a long list of tasks in hand, starting with providing the much-needed boost to the Indian economy, believes Taher Badshah, CIO, Invesco Mutual Fund. "I think most of prime minister Narendra Modi's policies will be for the long-term. We know there is a lot of work to be done in India, be it infrastructure or social welfare or rural areas. But, right now the economy is in a slow mode and there is an immediate need to address that. So, we can expect policies around this," he told Zee Business TV.
Taher said that the government also needs to address the situation in the NBCF space as early as possible. "We also have a situation from the NBFC space. In fact, that is more critical than anything. There are two or three NBFCs that are going through a stress and we hope that it is addressed as early as possible," he said.
While there is a long of things that the government is expected to focus on, Shah believes that priority should be given to immediate needs and the focus should then move on long-term goals.
Watch Taher Shah's video here -
जुलाई-सितंबर तक सरकार की आर्थिक नीतियां काफी अहम होंगी, देखना होगा रेलवे, रोड या ग्रामीण इंफ्रा में सरकार का कहां फोकस होगा: ताहेर बादशाह, CIO, इन्वेस्को म्युचुअल फंड @InvescoUS @AnilSinghviZEE pic.twitter.com/psLNcoFBYK
— Zee Business (@ZeeBusiness) May 24, 2019
"The government should look to address some immediate issues like NBFCs, depression in consumption demands in rural areas, among others. Only after that it should look at long-term issues like Railways, roads or rural infrastructure. It is only after that we can decide which stocks you can focus on," he added.
Taher advised the investors to be patient and not make a call on the basis of just government announcements. He said that investors need to look at other factors as well and make a 'smart call'.
"When it comes to stock selection, there are others factors that have to be considered as well apart from the announcements by the government. You need to see which is the right vehicle to play, you should make the buy at the appropriate price and should also check the past performance of the company. The investors need to remain patient and take smart call," he said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.