'Budget 2019 emphasises to deepen capital markets'

By Girirajan Murugan

This is the first Budget of the new government. There were expectations that a slew of policy measures would be announced that would help India to achieve a sustainable GDP growth rate of 8% per annum and become a USD 5 trillion economy in the next 5 years. The finance minister has provided a roadmap for the same. What is encouraging from our perspective is the fact that a lot of emphases has been given to deepen the capital markets. We are very excited with the proposals to increase retail participation in government debt, CPSE ETF offering under ELSS and increased retail ownership of Indian companies. As India uses more digital means for financial transactions, we believe the financial distribution space would also mirror such a trend and eventually help bring down disintermediation costs. We look forward to the proposals related to the simplification of KYC norms as this has held back the growth of Digital platforms.

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The author is Chief Executive Officer at FundsIndia.com

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