The full Union Budget for the year 2009-10 will be presented by the new Finance Minister of India, Mr.Pranab Mukherjee today at 11AM IST.
As said earlier this is not the first time that Pranab Mukherjee is presenting the Budget for India (link).
How will the stock markets react?
To make a word on the current situation, let’s go back 2 years when the budget was presented in 2007 and 2008. In 2007, the then Finance Minister Mr.P Chidambaram presented a finance oriented budget hoping to take the already roaring Indian economy then a step further. Reacting to the budget the stock markets rose 2 % on the day of the budget and the following day put together. However, the next 4 days saw a 3-4% fall in the Index.
In 2008-09, which was dubbed as the election Budget, PC concentrated more on the ‘Aam Aadmi’ leaving beside the Industries. As expected, the Stock markets saw a steep fall of 5-6% on the budget day and few days following that day.
In 2009-10 however it is totally a different story. Congress has emerged as the Single largest party with claiming over 200 seats by it self and was in a position to choose its after-poll allies to form the Government, which saw majority of the parties sending an unconditional support to the UPA Group.
There is no place for the Left parties in this UPA Government and hence the stock market experts believe Pranab Mukherjee should put forward a reform oriented budget. But contrary to their belief, this budget may not such a reform oriented budget as Mr.Pranab has to balance many things keeping the Aam Aadmi in mind.
So there is no guarantee that the Stock Indexes will surge as seen when UPA was announced as the Election winner. Today could go either way depending on the Budget presented by Pranab Mukherjee. If it puts Reforms ahead of Aam Aadmi, then sure the market will see a rise and if the other case turns up, you know what to expect.
So how will the Stock Indexes reply to Pranab’s Budget?
Catch all the action as it happens with Live updates right here:
Updates start at 11 AM when the Budget speech begins (And you, be sure to press the refresh button in your browser to get the latest updates)
Live Updates begin:
- 10 Minutes to the Budget Speech, Sensex is UP 100 pts at 15014 and Nifty UP by 30 pts at 4453.
- Budget speech starts at 11 AM sharp.
- Pranab Mukherjee says that the Government will take it as a challenge to get back the GDP tp 9%.
- 10 minutes into the Speech and the Indexes stay calm but slightly dip. Sensex goes below 15000.
- Says Infrastructural Investment will exceed 9% of GDP by 2014 and Infra stocks rise.
- Sensex goes UP 100 pts and again crosses 15000.
- Budget speech ends at 12.40PM.
- Stock markets crash. Sensex Down 750 points and Nifty down 200 points.
Watch the Live Streaming of the Budget speech here http://budget.nautanki.tv/
Visitors who read this article also read:
- Union budget of India 2009-10 previewSeeing the stock markets neither moving up as seen some days ago nor going down, one gets the sense that...
- Andhra pradesh budget 2009-10 session liveFinance minister Mr.Rosaiah will present the budget for Andhra Pradesh as the assembly sits for the budget session from tomorrow....
- Railway Budget 2009-10 by Mamata Banerjee previewUpdate: Follow the live updates at our twitter feed @railbudget The Railway budget for the year 2009-10 will be presented...
- Economic survey of India for the year 2008-09The new Finance Minister of India, Mr.Pranab Mukherjee will present the economic survey of India for the past fiscal year...
- GHMC polls results today-Live updatesThe short wait for the GHMC poll results is over, and its time for the candidates to know their result,...
- Corporate trophy Live UpdatesNearly after 2 months, the boys in blue are back in the Live cricket action. The corporate cup 2009 will...