Moneycontrol
Mar 17, 2012 03:58 PM IST | Source: Moneycontrol.com

Budget Analysis: Union Budget 2012-13, a pragmatic Budget says Angel

Angel Broking has come out with its report on Indian Union Budget 2012-13. As per the research firm Tax revenue is expected to increase substantially by around Rs 1,29,000cr over the revised estimates for FY2012.


Angel Broking has come out with its report on Indian Union Budget 2012-13. As per the research firm Tax revenue is expected to increase substantially by around Rs 1,29,000cr over the revised estimates for FY2012.

The markets had broadly come to terms with the fact that the government is shackled by political and fiscal considerations and is not in a position to deliver major reformist budgets. In the backdrop of these modest expectations, Union Budget 2012-13 comes across as a job reasonably done. Somewhere, if after the UP elections there was some degree of concern that populism may hold sway, this budget at least dismisses those concerns by increasing tax revenue significantly and not indulging into any major populist expenditure increases. Overall, having taken the budget in its stride, from here on the market is likely to look at the progression of the monetary policy, inflation and interest rates

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