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As we move ahead into 2017, let us pause for a minute to review the year gone by. 2016 was definitely a year to be remembered. It has made surprise the new routine and forecasting a mug's game.
Last year saw many major occurrences that changed the global economic scenario... for better or worse. We had the Brexit, Indo-Pak surgical strikes, US Elections, the OPEC deal, Fed rate hike... Oh, and not to forget the demonetisation saga that's still going on.
All of the above had a significant impact on the Indian financial markets. Most asset classes took a beating thanks to volatility caused by these.
With all that happened in 2016 the question arises - 'Will 2017 take it's cues from 2016'?
We believe three key events could have some impact on 2017.
Tanushree Banerjee, Equitymaster's co-head of research, in a recent 5 Minute wrap up asked 9 interesting questions. Here is a question she asked Donald Trump:
We have already seen the first round of the economic impact. Sectors across the economy are lurching. With real estate and microfinance leading the tale. It would be interesting to see how long this impact continues. We also wonder how the transition towards the cash less economy will play out.
Typically, a budget presented on the last day of February gets approved by the parliament around mid-May. This way it is only actually implemented after one quarter is past.
Even though surprise has become the new routine, we believe these events will definitely continue to make waves in 2017. But only time can tell whether their impact will be positive or negative.
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