Do not expect anything on capital market in budget 2021, said Rashesh Shah, Chairman & CEO of Edelweiss Group, on Wednesday.
Speaking in an interview to CNBC-TV18, he said, “I don’t think there is anything specific for the capital market that is required because capital markets are doing well on their own. So as long as it is untoward towards capital markets, nothing proactively extra is required.”
“However, the stimulus for us will be the biggest one especially for the middle class, for the lower middle class, for the rural population and that will give momentum to the economy in the next year,” he added.
On the banking space, he said, “Banks are doing well and even public sector undertaking (PSU) banks are doing well and most analysts are upgrading earnings. So banks will now take care of themselves though there could be some COVID related stress, it won’t be heavy.”
“I wouldn’t look at government spending a lot on bank recapitalization but I would look at raising money through aggressive privatization,” said Shah.
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