Market wants to see roadmap for mobilising Gati Shakti funds: Deven R Choksey

“It may be time for the government to spell out the capital account convertibility and whether they should spell it out. In my view point, India would be in a far better position to attract some of the sustained long-term funds for the next 10 years or so,” says Deven R Choksey, MD, KRChoksey Holdings Pvt. Ltd.

What are the market expectations from the Budget?
In my understanding, the market definitely wants to see the roadmap ahead from the government on how they will mobilise such a large amount of money which they have spelt out under the Gati Shakti Yojana.

The government is talking about investing Rs 100 lakh crore and for that public private partnership is definitely understood. The kind of money this is asking for definitely would invite a good amount of inflow into the markets. In my view, one can expect some kind of a roadmap from the government on capital account convertibility at this juncture.


We already have significantly large forex reserves and on the other hand, if we are proposing to invite Rs 100 lakh crore of investment into the economy, it may be time for the government to spell out the capital account convertibility and whether they should spell it out. In my view point, India would be in a far better position to attract some of the sustained long-term funds for the next 10 years or so. I am expecting some kind of a possibility announcement in this Budget or maybe subsequent to the Budget in the policy review. So let us wait and see how the government reacts to it.