Equity flows will continue from foreigners but debt remains a challenge: Jahangir Aziz SECTIONS Last Updated: Feb 03, 2021, 08:54 AM IST Share Synopsis If you get away from these year-on-year numbers which are not only antiquated but misleading, there is a very strong recovery going on, says the Head, Emerging Market Economics of JPMorgan. ETMarkets.com Equity markets have rejoiced over the Budget but what has been your take? Do you think it is a pro-growth Budget despite the big miss on the fiscal front on account of the pandemic? The equity market in particular went into the Budget with a lot of fears that the government would excessively tighten fiscal policy and that could be on the back of increases in taxes. A part of the relief in the equity market was the fact that the government did not do any real increases in taxes. Overall, the Budget actually hits most of the points that we were looking for even though there were notable exceptions.