Budgets 2013: FM has tried to bring optimism to the country, says Motilal Oswal

Senior Assocaite Mahesh Ravidas Nayak spoke to Motilal Oswal Financial Services Ltd CMD Motilal Oswal on Budget announcements. Excerpts:

Q. What is the big takeaway for you from the budget?
A. The finance ministry has tried to bring optimism to the country. There are no negative surprises.

Q. What do you think is the outlook for the economy?
A. It will remain challenging, although fiscal discipline has improved. The ball is in Reserve Bank's court to drive growth by meaningful rate cuts.

Q. What is the outlook for your sector in particular?
A. There are lots of positive things in this budget such as the STT (Securities Transaction Tax) cut, the changes in RGESS (Rajiv Gandhi Equity Savings Scheme), benefits to ETFs (Exchange Traded Funds), etc

Q. What is the one thing that stood out for you in this Budget?
A. The commitment to fiscal discipline