Phillip Capital says FY22 Budget will be icing on the cake
Phillip Capital acknowledges the calculated measures taken by the government and RBI in the Covid hit FY21 which aided economic recovery. Phillip Capital expects similar policy momentum to prevail in the Union Budget FY22 scheduled on 1st Feb 21. Primary factor to highlight is that Phillip Capital now expects FY21 fiscal deficit to be lower at 7% of GDP vs. earlier/consensus expectation of 8%. Downward revision is led by better tax collections owing to economic reversal and well managed revenue expenditure (expected).
Phillip Capital expects similar policy momentum to prevail in the Union Budget FY22 scheduled on 1st Feb 21: Reuters