Biggest positive delta for consumption in Budget: Angel Broking

Dinesh Thakkar, CMD, Angel Broking, in a chat with ET Now talks about the Budget.

Do you agree that the biggest positive delta from this Budget is perhaps for consumption?

Yeah, I agree as because already we are seeing a good growth in consumption and putting more money in the hands of consumer will definitely push this sector. We have got good growth and it is mainly due to domestic consumption. Even in bad years like after Lehman crisis we saw that India was able to remain on this growth trajectory primarily because of domestic consumption.

So if sentiment improves and if government is able to put more money in the hand of consumer, you will see this consumption story picking up from here. As we have seen credit growth in banking also has not picked up last year primary due to concern about what we hear from across the globe - news of recession and might be slowdown and might be worst is not over.

So I think at least this Budget will initiate this process of putting a right mindset in terms of consumer that everything is good and government is also feeling comfortable to put more money in the hands of consumer.