Indian Budget Keeps Stock Rally Alive

While there were no “fireworks” in India’s highly-anticipated budget, investors approved of the government’s various pro-growth initiatives – which ranged from boosting infrastructure investment to lowering corporate taxes – adding fuel to the country’s stock market rally.

Finance Minister Arun Jaitley presented the budget on Saturday against the backdrop of sky-high expectations, with some describing it as the most important economic event for India’s stock market this year.

The budget’s overarching theme was ramping up growth, which Jaitley predicted would accelerate to 8-8.5 percent in the fiscal year starting in April, from 7.4 percent this year.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza