Budget 2020: Markets disappointed due to lack of stimulus, says Udayan Mukherjee

Giving a thumbs-down to the Union Budget 2020, CNBC-TV18's Udayan Mukherjee said markets are not rallying because they have not got the stimulus as expected from the.

He said that the budget was supposed to be about turning the economy around but on that score nothing much has been done.

“There has been no great infrastructure spend – in fact infrastructure spends on many counts are just about marginally higher. There is no major change in the rural spend. The rural spend is actually down this year - that is agricultural and irrigational allied products. On health and education as well the growth is marginal,” he added.

“The big star piece of this budget are changes in income tax slabs but that too  are set off against changes in deductions. If you do not avail of many of the deductions then you can avail of the tax slabs,” he noted.

“So, for the economy, this is not a big budget. It is a budget which will require a lot of calculation and computation because of the tax changes. The markets are disappointed because of the lack of any kind of stimulus and both the Nifty and the Sensex are down” Mukherjee further mentioned.