Budget 2014: More positives for FIIs than the negatives of GAAR, says Ravi Muthukrishnan of ICICI Securities

In a chat with ET Now, Ravi Muthukrishnan, ICICI Securities, shares his views on FIIs and GAAR.

ET Now: It appeared that GAAR could be a thorny issue and even though no clarity has emerged on it has not disturbed the FII flow picture?

Ravi Muthukrishnan: Yes, whatever happened in the GAAR front was more or less compensated in terms of other sort of benefits with the FIIs are getting out of this budget.

The positives out of the budget for FIIs has been more than the issue of GAAR and the government will try and resolve it as early as possible because that is what has built up the confidence in FIIs.

India as a story is a good story and when compared to the other emerging markets, it is definitely a country to be in so that is what has provided the impetus for FIIs to come into India.