Writing down one’s expectations from the Union Budget is the best thing to do for many in the month of January. It not only attracts eyeballs, but also appears to be the next in thing to do.
In that process a lot of people take it too seriously and the asset prices start moving accordingly. For example, the yields in the bond markets moved up too quickly as the market participants expected the Finance Minister Arun Jaitley to spend a bit more in Budget 2018 in addition to the rising risk of inflation.
