It was time for salaried class people to cheer as the slabs of income tax were revised giving tax benefits to salaried class giving a reason for them to smile. the minimum alternative tax was revised putting some burden on corporates. The excise duty on petroleum products was increased which lead to increase in petrol and diesel prices across the nation.The fiscal deficit targets were trimmed to 5.5 percent in the coming years.
All of these measures were taken positively by the market and markets are performing well after the budgets as a result the nifty is trading above 5000 and BSE Sensex is close to 17,000 mark showing thumbs up reaction to Pranab Dada budget, Its time to watch that were the budget bonanza can lift the markets.Overall the markets sentiments are positive specially sectors Like capital goods, infrastructure are in good mood.
The key remains with the implementation of various announcements. Lets c whats the real outcome of budget in the coming months.
