Markets Tank: FM the culprit
I know there are many people who would be cursing our beloved Finance Minister. Market expectation were largely ignored, some of them like major reforms, changes in corporate tax, fuel prices, removal of surcharge, but given that this budget is more of a populist budget it was pretty much obvious that Markets tanked.
And how! The biggest ever dive on a Budget day. The positives were extension of STPI tax holidays by one year which is going to help the IT sector, abolishing FBT and transaction tax on trading in Commodities.
For those who provide services within infrastructure will get a chance to bid for more Government projects, expenditure of which will be in the range of 9% of the total GDP.
I guess this is more or less an ideal budget that is not focused only on the corporate sector. Our corporates should not only think about how the budget is affecting the India Inc.
The whole media is hoop-halla about the negative aspect of budget as if they have stopped getting negative news elsewhere. Media should also have had shown the positives.
Hope I would be able to make this much more simpler in another post, after analysing what went good for a Common Man.