Indian budget brings reforms, but fails to cheer markets

Indian budget brings reforms, but fails to cheer markets

Indian budget 2020-21 brings reforms, but fails to cheer markets. Finance Minister Nirmala Seetharaman had a tough job to bring in measures that would drive the Indian economy further towards growth and development.. The Nifty50 on the National Stock Exchange was trading at 11,799.85, lower by 162.25 points, or 1.36 per cent from the previous close.. NRIs in the UAE have hailed it as a budget that will provide required push to the economy to rebound on its growth path.. FM has done justice to her budget to build aspiriational India, economic development and a caring society.. Also ensuring the safety of bank deposits and increasing deposit insurance to Rs5 lakhs (Rs0.5m) is encouraging.. The Finance Minister kept the theme of the budget as aspirational India with economic development and a caring society.. With India having one of the youngest workforces in the world, can become the largest skill resource exporter to rest of the world.. Education sector is backbone for any economy and focus on education sector is futuristic move.. The government has focused on structured growth which is the needed to reach $5 trillion economy.. Recently at Davos in Switzerland at the World Economic Forum 2020