Budget And its aftermath

Mr. Pranab Mukherjee ,the new FM presented his fourth budget on 6th july. There is huge media hype in whatever government does after the phenomenal success of the Congress party in the general election.So was with the budget.The share market shed about 1000 points on the budget day highest on any budget day.As the market was expecting way too much from the budget, especially on the removal of STT,FBT and CTT but the budget failed to deliver . The latter two were removed but the first one ,the most important one with the market's perspective was left as it was. But what i believe in is that the market over reacted.The market always want some big bang kind of news after there was nothing of that sort of in the budget. The budget was a very sensible budget taking everything into consideration. Yes the budget should have elaborated more on disinvestment but then "Budget are like AGM ,not every decision are taken in the AGM". The fiscal deficit for 2009-10 is 6.8% of the GDP.Yes there should have been more clarity on that front also that from where will the govt. raise the money.But as is clear from the budget that Pranab babu has choosen growth over fiscal deficit and rightly so because the only way to further now is to look for growth.The FM has clearly taken the stance for growth. Talking about 9% growth ,implementing GST bt April 1 ,2010 are really bold steps.Since the global market is still in the dold drum the internal consumption needs to be raised.The need of bringing INDIA and BHARAT together is very much necessary for India to become a dominant power in the world. The allocation for money for different social sector plans are directed in the right direction. SO all in all the budget was a very balanced budget an yes like i said earlier Budget are like AGM ,not every decision are taken in the AGM.