budget 08

The Finance Minister has spoken and the market has given its verdict. At least without reading the fineprint, the market was down 350 points. Some obvious disappointments were short-term capital gains tax going up and of course the large debt waiver from public sector banks to the tune of Rs 60,000 crore.
There have been some reliefs as well and some positive steps like excise cuts for many sectors like auto, FMCG, pharmaceuticals and there has been personal consumption increase that is expected after the tax cuts.