Narendra Modi's Bharatiya Janata Party has received an unprecedented mandate in the 2019 Lok Sabha elections and, after rerating in the last five years, markest will see earnings growth in the next term, said Raamdeo Agrawal, co-founder of Motilal Oswal Financial Services. "Whether it will happen or not, we have to see but my sense is it will happen. It has to happen,” he said.
“Economy has to be the first priority apart from my point of view. I am not an economist and second is that there is always a political way of handling everything, so let us see what happens. Fear of the uncertainty is over. Whether we are going to get fractured mandate – those kind of fears are over. Now there will be stability and there will be firm action on whatever they want to do,” he added.
“Government is meant to act. They are not going to sleep. In fact the work starts now. They have taken upon themselves to work. If you read the manifesto, the opening letter by Mr Narendra Modi is that we have taken a lot of tough actions and now the path is cleared for very swift action ahead,” said Agrawal.
“Markets have done well, in midcaps and in smallcaps, everywhere,” he further mentioned.
First Published: IST