{"id":1882,"date":"2018-02-02T04:57:00","date_gmt":"2018-02-02T04:57:00","guid":{"rendered":""},"modified":"2025-11-10T15:53:13","modified_gmt":"2025-11-10T10:23:13","slug":"balancing-act-taking-path-consolidation","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/balancing-act-taking-path-consolidation\/","title":{"rendered":"&#8216;Balancing Act&#8217; &#8211; Taking The Path Of Consolidation"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p>Earlier today, Finance Minister (FM) Arun Jaitley presented the highly anticipated <a href=\"https:\/\/www.equentis.com\/blog\/union-budget-2024-which-sectors-does-it-favour\/\">Budget<\/a> for FY2018-19. Walking the precarious line between fiscal prudence and populism, FM Jaitley has deftly structured the Budget around \u2018Consolidation\u2019 of various reforms that have seen the light of the day, under the leadership of PM Modi.<\/p>\n\n\n\n<p>The intent and thought process in today\u2019s Budget speech, reminds us of these lines in the famous poem \u201cChalna Hamara Kaam Hai\u201d by Shri Shiv Mangal Singh Suman \u2013<\/p>\n\n\n\n<p><em>GATI PRABAL PAIRON MEIN BHARI,<\/em><br><em> PHIR KYOON RAHOON \u2013 DAR DAR KHADA,<\/em><br><em> JAB AAJ MEREY SAAMNEY HAI RASTA ITNA PADA,<\/em><br><em> JAB TAK NAA MANZIL PAA SAKOON,<\/em><br><em> TAB TAK NA MUJHEY VIRAAM HAI \u2013<\/em><br><em> CHALNA HAMARA KAAM HAI<\/em><\/p>\n\n\n\n<p>In our view, the budget in most proportions delivered what was expected and needed around the following sectors:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Rural, Farm-Income &amp; Agri focused<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Promoting Healthcare<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ease of living for Senior Citizens &amp; Middle-Income Group<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Thrust on Infra Creation<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Providing high quality Education<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Support to the MSME sector<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Upliftment of the poor and women welfare<\/li>\n<\/ul>\n\n\n\n<p>We think this budget is generally along expected lines. The emphasis was expected to be on agriculture, rural and boosting farm incomes and that, in fact, turned out to be the central theme.<\/p>\n\n\n\n<p>One of the fears market participants had going into the budget was a populist budget having a negative impact on fiscal prudence. We applaud the Government for resisting this temptation and instead, choosing programs targeted at raising Kharif MSP by 1.5xs of cost price, enabling farmer productivity and increasing farmer income.<\/p>\n\n\n\n<p>Secondly, the government announced a slew of measures intended at delivering growth through infrastructure creation of roads \/ highways \/ airports \/ agri-clusters \/ food processing, improving rural quality of life via initiatives structured around electricity, education, health care and sanitation.<\/p>\n\n\n\n<p>However, the Budget also bought back the heavily discussed and dreaded Long-Term <a href=\"https:\/\/www.equentis.com\/blog\/what-is-direct-tax\/\">Capital Gains Tax<\/a> (LTCG) which has caused a dampening of sentiment; albeit TRANSITORY in our view &#8211; investors will move to the new normal very soon, given the sharp growth trajectory of the Indian economy as well as the dearth of lucrative investment altrenatives. Apart from this, personal <a href=\"https:\/\/www.equentis.com\/blog\/income-tax-concepts-the-ultimate-guide\/\">income tax<\/a> <a href=\"https:\/\/www.equentis.com\/blog\/old-tax-regime-slabs\/\">slabs<\/a> were kept unchanged, while introducing standard deduction for the salaried class. There was also the benefit of corporate tax rate at 25% for companies with turnover up to Rs. 2.5bn (vs. Rs. 0.5bn earlier) &#8211;&nbsp;That will spur a rise in&nbsp;profitability and increasing investment and savings; job creation and all of this will find its way back into the economy<\/p>\n\n\n\n<p>All in all, we believe that the Budget presented today ushers in constructive steps towards building a \u201cNEW INDIA\u201d with strong fundamentals for GDP growth more than 8% <a href=\"https:\/\/www.equentis.com\/blog\/what-is-cagr-compound-annual-growth-rate-meaning-formula\/\">CaGR<\/a> over the near to medium term. It also has set the right tone and policy framework wherein there is premium on honesty, targeted benefit of transfers to the intended, a recapitalized banking system that is able to support growth.<\/p>\n\n\n\n<p>Schemes aimed at enhancing rural and farm incomes will lead to a surge in demand for consumer durables, autos, and building materials. Universal Healthcare and quality education were given prominence in the budget, which will aid social health of the economy and in the long run reduce subsidy burden and thus fiscal deficit. Alongside, focus on promoting tourism, higher targets on road, highway and airports construction, as well as changing the definition of investment grade credit from AA to A will open significant avenues for corporate India to borrow from the bonds market.<\/p>\n\n\n\n<p>Targeting economic growth of 7.5% in FY18 and 8% in FY19, while keeping the fiscal deficit at 3.3% of GDP in FY19 &#8211; seems to be achievable given the enormous tax reform (GST) undertaken by the government, reduction in subsidies and freebies, and additional income from 10% tax levied LTCG and Dividend distribution tax (DTT) on <a href=\"https:\/\/www.equentis.com\/blog\/what-are-mutual-funds-a-comprehensive-guide\/\">mutual funds<\/a> schemes, asides the Rs. 800bn disinvestment programme.<\/p>\n\n\n\n<p><strong>From a sectoral perspective the Sectors to Benefit are as follows \u2013<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Healthcare<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Education<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Infrastructure asset owners<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Building Materials \u2013 Steel \/ Cement<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Agriculture machinery \/ inputs \/ seeds &amp; fertilizers<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Aquaculture<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Footwear<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>NBFCs<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Housing Finance Companies<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Affordable Housing<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Autos &amp; Auto ancs<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Consumer Discretionary<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Travel &amp; Tourism<\/li>\n<\/ul>\n\n\n\n<div class=\"&quot;highlight&quot;\"><strong>Our advice to the Retail Equity Investors w.r.t. the 10% LTCG imposed<\/strong>\n<p>&nbsp;<\/p>\n<p><em>\u2013LTCG Tax Was 50:50 Expected, but Still a Negative on the Margin<\/em><\/p>\n<p>The government chose to rationalize tax structures across asset classes. Equities enjoyed a tax advantage relative to fixed income and other asset classes. India now joins other world markets in instituting a 10% long term tax on equities, notably, the existing <a href=\"https:\/\/www.equentis.com\/blog\/how-to-fix-your-tax-estimation-mistakes-before-its-too-late\/\">capital gains<\/a> will be grandfathered, and the newly instituted long-term tax will be applied only on a going-forward basis starting 01-Feb-18. So, this advantage that was available to equity investors is no longer in place.<br>The Indian economy today is USD 2.5tr \u2013 7th largest globally (3rd largest on PPP basis) and making rapid strides to emerge as the 5th largest very soon based on consensus estimates of world economists. We are of the firm view that the structural reforms witnessed in the past few months will form the pillars for accelerating corporate earnings as well as building on the buoyant business-consumer-investor confidence \u2013 which are the key ingredients for equity price appreciation.<\/p>\n<p>We would strongly advise investors to remain invested and maintain a disciplined investing strategy with long-term pursuit of wealth creation and not be dejected by a meagre 10% LTCG.<\/p>\n<\/div>\n\n\n\n<div class=\"&quot;highlight&quot;\"><strong>We would like to discuss in detail on the effects of Structural Reforms on the Indian Economy going forward \u2013<\/strong>\n<p>&nbsp;<\/p>\n<p>Structural reforms require immense political will and hence aren\u2019t easy. However, there is ample economic evidence to prove that it works.<\/p>\n<p><em>Reforming countries experience a growth acceleration in the medium term, following short term pain. Reforms in banking significantly raise growth and make economies attractive for FDI.<\/em><\/p>\n<p><strong>In our opinion, PM Modi\u2019s govt. has pursued a three-pronged approach pf<\/strong><\/p>\n<p>a) Fiscal Responsibility<br>b) Stimulus but with Direct Benefit Transfers<br>c) Structural game changing reforms<\/p>\n<p>By pursuing all three, the government has ensured additional multiplier growth benefits will come forth<\/p>\n<p>The pursuit of the three policies creates a resilience to macro-economic shocks, raises economic growth and reduces unemployment. There is a lag however, on the materialization of growth benefits and in the short term, there is substantial pain and resistance to change.<\/p>\n<p>Aadhaar, Jan Dhan, demonetisation, GST, and benami, are working synchronously to create a new, inclusive infrastructure. Central to the reforms is the move away from cash, towards electronic payments, away from black money to white, from unorganized to organised and towards a national biometric identification based financial system.<\/p>\n<p>The government has also moved deftly with infrastructure stimulus through creation of roads\/highways\/ports\/power and Bankruptcy Code for NPA resolution along with Bank Recap programme With RERA &#8211; the government has also strengthened its economic and legal infrastructure with real estate sector.<\/p>\n<p>The proof in the pudding lies in the fact that India has jumped 30 spots in the World Banks\u2019 rating for ease of doing business.<\/p>\n<p>We are already seeing a sharp improvement in corporate earnings in Q3-FY18 with a positive management commentary and can attribute a high probability that all things equal \u2013 FY19 and FY20 would be very strong growth years.<\/p>\n<p><strong>We sum up the overall political will, traction of bureaucracy functioning and structural reforms implemented, with the lines of the poet \u2013 Sohan Lal Dwivedi<\/strong><\/p>\n<\/div>\n\n\n\n<p>&#8220;CHALO NAYEE MISAAL HO,<br>JALO NAYEE MISAAL HO,<br>BADHO NAYAA KAMAAL HO,<br>JHUKO NAHIN, RUKO NAHIN,<br>BADHEY CHALO, BADHEY CHALO&#8221;<\/p>\n\n\n\n<p>&#8220;May you walk for new paradigm,<br>May you set new example,<br>May you go for a new feat,<br>Don\u2019t bow, don\u2019t wait,<br>Walk on, Walk on.&#8221;<\/p>\n\n\n\t\t<div data-elementor-type=\"section\" data-elementor-id=\"9185\" class=\"elementor elementor-9185\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e92a158 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e92a158\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-65b41f6\" data-id=\"65b41f6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a613ee7 elementor-widget elementor-widget-shortcode\" data-id=\"a613ee7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\t\t<div data-elementor-type=\"section\" data-elementor-id=\"6844\" class=\"elementor elementor-6844\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2efdbd0d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2efdbd0d\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-783deaaa\" data-id=\"783deaaa\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c60a2cc elementor-widget elementor-widget-heading\" data-id=\"c60a2cc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Related investing topics<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3e3de9dd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e3de9dd\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-40fd5db7\" data-id=\"40fd5db7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-757ca8cb ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"757ca8cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/how-to-invest-in-share-market-guide\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    How to Invest in Share Market?                <\/h3>\n                        \t\t  \t<p>Considering the volatility, investing in stock markets is both an art and science.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-601073c\" data-id=\"601073c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8b38507 ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"8b38507\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/looking-for-one-multi-bagger-today-here-are-54-that-multiplied-investors-wealth\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    5 Best Places To Live After Retirement In India                <\/h3>\n                        \t\t  \t<p>While some retired people set sail on voyages worldwide, others look forward to spending their time in relaxation and comfort.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-7e5723c\" data-id=\"7e5723c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-551526b ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"551526b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/90-percent-lose-money-in-stocks\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    90% People Lose Money in Stocks?                <\/h3>\n                        \t\t  \t<p>Isn't it shocking? But it is a fact. There are countless reasons why investors lose money in stock markets.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-6dc0c61\" data-id=\"6dc0c61\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eb5233e ekit-equal-height-enable elementor-widget elementor-widget-elementskit-icon-box\" data-id=\"eb5233e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >        <!-- link opening -->\n                <a href=\"https:\/\/blog.researchandranking.com\/is-long-term-investing-always-safe\/\" class=\"ekit_global_links\" target=\"_blank\" rel=\"noopener\">\n                <!-- end link opening -->\n\n        <div class=\"elementskit-infobox text- text- icon-lef-right-aligin elementor-animation-  gradient-active  hover_from_left\">\n                        <div class=\"box-body\">\n                            <h3 class=\"elementskit-info-box-title\">\n                    Is Long Term Investing Always Safe?                <\/h3>\n                        \t\t  \t<p>Let\u2019s understand what long-term means before we explain why Long Term Investing may not always be safe.<\/p>\n                                <\/div>\n        \n        \n                <\/div>\n                <\/a>\n        <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\n\n\n\n<p><strong><strong>Read more: \u00a0<a href=\"https:\/\/timesofindia.indiatimes.com\/blogs\/voices\/long-term-investing-helps-create-life-changing-wealth\" target=\"_blank\" rel=\"noreferrer noopener\">How Long-term investing helps create life-changing wealth \u2013 TOI<\/a>.<\/strong><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier today, Finance Minister (FM) Arun Jaitley presented the highly anticipated Budget for FY2018-19. Walking the precarious line between fiscal [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1883,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/1882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/comments?post=1882"}],"version-history":[{"count":2,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/1882\/revisions"}],"predecessor-version":[{"id":63355,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/1882\/revisions\/63355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media\/1883"}],"wp:attachment":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media?parent=1882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/categories?post=1882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/tags?post=1882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}