Here's Religare's view on Vote on Account

Tirthankar Patnaik, Religare Capital Markets believes the Budget did not mean anything as nothing came out of it. “People expected him (FM) to toe the fiscal line,” he adds.

Patnaik further adds that the tax revenue numbers are definitely optimistic, particularly income taxes going up by 27 percent are defiantly on the optimistic side. “They (FM) have also kept plan expenditure growth at 15 percent and so, you have two levers here,” he adds.

He says midway through the year, tax revenues are not coming up to the numbers that government planned, there might be cut on plan expenditure. This is something that was done this year and also, a year before.