Gayatri’s Reddy Says India Budget to Lure Public Work Investors

Sandeep Reddy, managing director of Gayatri Projects Ltd. comments on India’s budget and stocks in an interview to Bloomberg News.

The Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 122.49, or 0.7 percent, to 17,823.4 as of the 3:30 p.m. close in Mumbai today. India will cut the budget deficit to 4.6 percent of its gross domestic product in the fiscal year ending in March 2012, Finance Minister Pranab Mukherjee said in his annual budget speech in parliament today.

“Finance Minister Pranab Mukherjee’s budget is expected to boost investment in the infrastructure sector, which will trigger economy on a growth trajectory to achieve 9 percent growth rate.

‘‘The proposal to introduce special infrastructure debt funds to attract foreign financing in infrastructure will certainly help the robust growth of infrastructure sector in the days to come.’’

To contact the reporter on this story: Sharang Limaye in Hyderabad at slimaye@bloomberg.net;

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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