Budget 2011 ahead of expectations: Sharekhan

Budget reactions from Gaurav Dua, Head of Research at Sharekhan.

In spite of the tough macro environment and the political compulsions before important state elections, the Finance Minister has managed to announce a growth-oriented budget. Though there are no big bang reforms, but in his speech the Finance Minister has hinted at taking progressive policy actions in the key areas of delivery of subsidies, attracting foreign direct investment, boosting resources mobilization of infra development etc during the course of the year. Overall, it is a budget that has exceeded expectations that were rather low anyways.