Billionaire investor Rakesh Jhunjhunwala believes that India’s stock market will show more momentum in the coming times. He himself admitted that he was not so optimistic in March 2020, when he sold 2 per cent of his portfolio in March 2020, and the stock market was at a very low level at the time, but by April-May, it rebounded. . He said that the market indicated that it had rebounded from a lower level.
India will overtake China in 25 years: Jhunjhunwala
In an interview with The Print, Rakesh Jhunjhunwala said that India will grow in two numbers in the next three-four years. He said that he feels that India will grow at 7 percent this year, next year it will go to 10 percent. Rakesh Jhunjhunwala also assessed that India will overtake China in the next 25 years.
Investors have high expectations from the Union Budget 2020 as the Indian economy is on the path of recovery. When asked about the expectations regarding the budget, Jhunjhunwala said that people will be shocked to see the Union Budget 2021. He said that he expects that there will be no tax in the budget, a substantial increase in spending and a fiscal deficit of 6.5 to 7 percent. This week India’s stock market reached a record high. In this, the BSE Sensex has crossed the critical figure of 50 thousand and the Nifty 50 has crossed the 14,750 level.
Difficult to bring changes in India: Jhunjhunwala
During the conversation, Rakesh Jhunjhunwala criticized former RBI Governor Raghuram Rajan for not supporting the agricultural bills. He said does Raghuram Rajan have a good word for what India has done in the last 5 years? They constantly criticize the government. He further said that Raghuram Rajan sees only darkness, not light. The big investor described the present-day farmer movement as an example of how difficult it is to bring changes in India. Jhunjhunwala said that Raghuram Rajan had earlier favoured these agricultural laws, but now he is criticizing them.