The FM in yesterday's meeting clearly showed the intent for being adaptive to policy changes and PMs vision for a 5 trillion economy. The current rollback on FPI surcharge would certainly send a strong message and will be a positive sentiment for the near future. There were multiple measures put down by the FM after accessing the industry which are likely to be addressed in phase manner. We expect the government to be proactive on such policy measures which will take the economy in a structured growth phase.
Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures Ltd.