On the interim Budget getting increasingly populist on income tax cuts and farm package among other aspects, Mark Mobius of Mobius Capital said, “A lot of it is priced in.”
Speaking to CNBC-TV18, Mobius said every country in the world has data credibility issue, but “we have to look carefully”. The current growth rate of 8 percent makes sense for India, he noted, adding, “we have to take a lot of these statistics with a grain of salt but I think it is quite a shock at this stage to see this happen in India.”
Praising the Reserve Bank of India (RBI), Mobius said that the central bank has done a terrific job in regulating the amount of RBI reserves, which he believes are very high. He expects the central bank to lower key interest rates in the near future.
He said BJP may not get majority numbers in the next Lok Sabha elections due in few months.