Budget proposals don't change our long-term preferences: Abhiram Eleswarapu

'Consensus forecasts call for a 16 per cent earnings compounded annual growth through FY25, with margin expansion baked in across most sectors', said Eleswarapu

The Budget proposals have reinforced focus on longer-term infrastructure, asset creation, and personal investing based on the merit of the instrument rather than on tax incentives, said ABHIRAM ELESWARAPU, head of India equities at BNP Paribas, in an interview with Puneet Wadhwa. Edited excerpts:

What’s your view on the Budget proposals? Is there a hint of populism in this government’s last full Budget ahead of the2024 elections?

The Budget stuck to the glide path to bring down the fiscal deficit to 4.5 per cent of the gross domestic product (GDP), continued its thrust on long-term capital expenditure (capex) and infrastructure