Rakesh Jhunjhunwala's BIG PREDICTION - When per capita income of India will surpass China's
Rakesh Jhunjhunwala said that by financial year 2025-26, India's GDP growth will reach the double digit mark and sustain it over the next two decades.
Big Bull Rakesh Jhunjhunwala while speaking at an event to commemorate Jana Small Finance Bank's anniversary said that the market benchmarks will keep doubling every four to five years. Further, the Big Bull added that in the next 25 years, India's per-capita income will surpass that of China on the back of high economic growth.
Rakesh Jhunjhunwala said that by financial year 2025-26, India's GDP growth will reach the double digit mark and sustain it over the next two decades, as per a report in PTI.
The Big Bull also said with the economic growth gaining momentum, there is a reason for the RBI not to raise rates because of worries over inflation.
He also advocated taking a look at recasting the consumer price inflation basket, which has over 50 per cent weightage on food, where the prices are very volatile. With the growing prosperity, food has ceased to be such an important constituent of expenditure for households, he argued.
'Big Bull' Rakesh Jhunjunwala on Saturday said he has investments in private companies stretching to over a decade, and the returns he has made on his unlisted portfolio are higher than the one on listed firms.
Jhunjhunwala, who is reported to be the largest individual investor in the domestic markets, also said the level of taxation on the equity markets is "reasonable" given the socio-economic conditions in the country. "I am happy to inform you that my return on the unlisted portfolio is greater than the return on my listed portfolio. There also I have long investments of 10-12 years," he said.
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