Markets seen to give 15-20 % return annually

It has advised investors to retain faith in the capital market as Budget proposals would push the growth momentum.

“Despite tsunami and depressed sentiments that captivated stocks from January onwards...Sensex and Nifty stocks are likely to fetch an average return of 15 to 20 per cent on annualised basis if one invests with a horizon of 2 to 3 years from the current level,” it said.

It also said readjustment of excise duty on branded garments and waiver of minimum alternative tax on special economic zones would give a fillip to the market.

“These policy measures will prove a big boon for the markets to expand ...,” it said.

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