Market not too expensive, time for making fresh investments: Joseph Thomas
Joseph Thomas, Head of Research at Emkay Wealth Management, says this is the time to initiate fresh investments with a medium to long-term perspective.
«The normalization of returns has already taken place on both midcaps and smallcaps, and this calls for selective investments in both,» he adds.
Edited excerpts from a chat:
How strong do you think the impact of the Rs 1 lakh crore boost to consumption from income tax relief would be?
The net disposable income of Rs 1 lakh crore with taxpayers will go into either consumption, investment, or both. In either case, the net money available will have a multiplier effect. It may be a small amount in the broader context, but it will definitely have a positive impact, especially at a time of sluggish demand. The extra money fuels the propensity to consume and invest. This has another dimension: spending often occurs ahead of the realization of income, which is a behavioral pattern peculiar to economies like India. Therefore, it is a good measure that helps catch two birds with one shot.
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