India’s 50-share Nifty Index on Tuesday hit the 11,000 mark, while
benchmark 30-share index Sensex crossed the 36,000 mark for the first time to
hit fresh record highs due to positive earnings and the government’s efforts to
contain fiscal deficit target.
Analysts believe that the rally in the market is likely to
continue after Prime Minister Narendra Modi on Sunday indicated that the
upcoming Budget will not be a populist one.
Modi on Sunday said in an interview with Times Now that
it was “a myth” that people wanted sops and freebies. It is the responsibility
of the government to understand the needs and aspirations of the people and
work towards achieving them honestly, Modi said
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