Union Budget 2013-14 - Stock Market impact comments of Mr. Amar Ambani, Head of Research, India Infoline Ltd.

"FM presented a rather non-eventful budget given that fiscal deficit targets were vocally communicated earlier. Market was disappointed with evident populism in the budget through higher social scheme allocations despite limited headroom. The math for achieving 4.8% fiscal deficit in FY14 looks vulnerable to slippage. Further, it was also not a budget which can revive the sagging economy. Absence of key reform measures such as GST implementation was also dejecting."

Source : Equity Bulls

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