'One need not go for the boundaries and sixes at every ball'

We speak to Pankaj Tibrewal, Equity Portfolio Manager at Kotak AMC, who manages Kotak Small Cap Fund, about the latest Budget and why small caps are promising. What are your views on the Union Budget 2020? What are its hits and misses? This Union Budget 2020 was presented against the backdrop of very weak growth and subdued animal spirits in the economy. So, the FM had a difficult task of balancing growth revival with fiscal prudence. In this regard, the Budget was a fine balancing act. Some positives of the budget are: 1. 100 per cent tax exemption on income from investments (all forms - dividend, interest, capital gains) by sovereign funds in the infrastructure sector to boost the sector and provide much needed capital to this sector. 2. FPI limits were relaxed in the corporate-bond segment from 9 per cent of the outstanding to 15 per cent of the outstanding. 3. Another important step