A quick take on the budget

From the macro perspective, my instantaneous reaction is that this isn't a negative budget, and a lot of duties have been rationalised. Which means that, as a long term investor, I can expect the impact of this budget to be felt next year. Particularly heartening is the reduction in fiscal deficit, though it remains to be seen whether that can be achieved. I doubt it.

Excise has been reduced and sales tax has been increased, which means that some commodities will remain evenly priced or slightly cheaper.

I didn't expect any labour reform, with the left parties constantly at the government. Nothing in it for me as an investor in Ranbaxy.

The stock markets have been taxed further with an increase in transaction tax (I think). I'll have to read about MAT tomorrow and figure that out.

By the looks of it, this looks like a budget that has maintained the status quo. Will read the fineprint tomorrow.