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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty?

Q: Do you sense though in your conversation with investors that anyone is waiting to take that investment call depending on what the Budget delivers?
A: I think the Budget per se is not as important from their point of view because what one recognizes in the Budget per se is that the fiscal deficit is quite high and there is only so much that the finance ministry can do in the Budget. So if you have a budget, probably it is more like what he spells out as their policy framework for the next few years which probably will be more important than the small tax concessions and all which he will give in the Budget. I think what the follow-up is because probably what is getting done on infrastructure is more required outside the Budget than the part of the Budget. That will be a combination of that whole reform package, what they do, how much of high-ways start kicking off, what power plants come up which will be as important probably as the Budget.