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FM move puts no extra burden on fiscal deficit: Basant Maheshwari

FM has addressed the MSME issues where there was maximum pain and job losses.

ET Now|
Aug 24, 2019, 01.38 PM IST
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The best thing that Finance Minister Nirmala Sitharaman has addressed is the MSME space because that is where the real pain and real India are and that is where the job losses are coming through, says Basant Maheshwari, Co-Founder and Partner, Basant Maheshwari Wealth Advisors. Excerpts from an interview with ETNOW.

Monday morning and beyond, how do you see the markets moving?
This is a great time to be with you. The Finance Minister said she will make two more announcements next week, so if you want to short stocks just see before you go and the press the sell button. To cut a long story short, controlling the investor sentiment is a derivative of how the underlying economy works.

This is not an additional burden on the fiscal deficit because if there was a fiscal deficit burden, then the bond markets go haywire and there are so many other things but to quickly sum it up, the best thing that Finance Minister Nirmala Sitharaman has addressed is the MSME space because that is where the real pain is and that is where real India is and that is where the job losses are coming through.

More importantly, there was the push on the auto sector. In the 90s, when the markets used to recover, the first stock that used to go up was Tata Motors. We used to call it Telco in those olden days because commercial vehicles and passenger cars are things which can be deferred.

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