UBS ON GOVT BUDGET
Government to continue with consolidation
Revenue collection to marginally improve in line with nominal GDP
Key focus: capex, consumption and employment but within fiscal boundaries
Muted impact on equities
If FY26 capex is budgeted at around Rs11 trn (similar to the FY25 budgeted capex), it would be negative for L&T
10-year government bond yield to decline to 6.25% in FY26E
By: via AlliesFinServe #StockMarket #Bharat Telegram.me/AlliesFin
