Budget Blues

The idea that an election eve budget exercise would cater to the markets led to its downfall.

The markets tumbled across board post the budget, as was to be expected. There was nothing to cater to the desire and dreams of the industries.

Although not much was expected from the policymakers as the vote on account has limited scope, there were strong expectations of some moves to catalyze growth in sectors that have been worst hit by the slowdown.

Ultimately it turned out to be a budget that left a feeling of could have, would have and should have!

But the biggest worry for markets is, now that the government has clearly expressed its stand to not take any strong measures, given that the general elections are round the corner, it could dull the sentiment further.

The problem is that the few months of inactivity in these adverse conditions could hurt the economy more.

From the looks of it, 2009 could see things worsen. But my view is that we just might end the year on a better note.