Budget not an economic but significant policy event: Motilal Oswal AMC

The budget is not that big in terms of economic impact as it used it be, said Susmit Patodia of Motilal Oswal AMC on Thursday.

Speaking in an interview to CNBC-TV18, he said, “The total expenditure of the budget is now less than 10 percent of India’s gross domestic product (GDP). Therefore, from that perspective it’s not an important economic event but it’s a very significant policy event.”

“Therefore, we hope that the push on infrastructure, real estate continues. These are very important sectors to focus on. The real estate expenditure by the private sector is down from 11 percent to 7.5 percent now. We have seen a bit of an incentive has led to near all-time high quarterly sales for real estate companies,” he said.