Post-Budget Quote: Mr. Dhiraj Relli, MD & CEO, HDFC Securities

Mr. Dhiraj Relli, MD & CEO, HDFC Securities, on Budget 2022:

“The Budget is growth-inducing and does the heavy lifting by sharply increasing capital expenditure. The focus on boosting manufacturing as well as an underlined emphasis on areas such as startups, modern mobility and clean energy, shows the FM has prioritised long-term growth. Individual taxpayers may feel a bit disappointed with the lack of direct tax cuts but this Budget lays the ground for a multi-year growth boom. The FY23 fiscal deficit has come in higher than expectations. Let’s hope the interest rates and inflation do not remain high for long.”