Moreover, collections from goods and services tax (GST) also don’t seem to be on an upward trajectory, he added.
Experts are cautiously optimistic about the market, despite recent positive trends. The global earnings season has started well, but concerns linger. Elections next month and potential volatility, as well as the RBI's expectations for robust growth and low inflation, may face challenges, warns Andrew Holland, CEO of Avendus Capital Alternate Strategies.
Holland points out potential downward pressures on the macro front. Predictions include oil reaching $80 per dollar and the rupee further depreciating to 67/USD. Additionally, collections from goods and services tax (GST) are not showing a clear upward trend.
In summary, the next 12 months might be uncertain, but attention will be on earnings. Earnings growth is estimated at 15%, aligning with the market. The GDP growth for FY19 is anticipated to be around 7%.