This year's Union Budget is key to the stock market as the investors are looking up to the government to devise ways to boost the consumption which has taken a hit after the demonetisation of Rs 500 and Rs 1,000 notes on 9 November.
According to Harish Krishnan, Fund Manager at Kotak Mutual Fund, only steps in the budget can drive the economy.
"All in all what we think is that there are few sectors which have got hit on account of demonetisation. At this point of time the budget, every year we make a lot of song and dance about it, but this year really it looks to be the key event for the year. Because they are pretty much the only team having any kind of power to drive revenue or to drive demand at this point of time," he told CNBC-TV18 in an interview.
Ever since the demonetisation announcement, the BSE Sensex has lost 2.5 percent, with the investors losing Rs 2.30 lakh crore.
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Updated Date: Jan 14, 2017 20:04:25 IST