FIIs cheer deferment of GAAR by 2 years: Gautam Trivedi, Religare Capital Markets

In a chat with ET Now, Gautam Trivedi, CEO at Religare Capital Markets Ltd, shares his view on the likely impact of postponement of GAAR on markets.

ET Now: What is the call on the market post budget? Is the Budget strong enough to propel the markets higher?

Gautam Trivedi: Yes it is. The market has taken the Budget very positively. Foreign institutional investor in particular are extremely happy about the GAAR being postponed by two years. The issue was a problem area, ever since it was first proposed by the then finance minister Pranab Mukherjee.

The government is making a sincere effort to reduce fiscal deficit in a time-bound programme, which is quite positive. Of course, there were a lot of issues within the Budget that can be discussed later on.