Edition 11 – Budget update

Following the announcement of the FY2021-22 Union Budget, the leading index Sensex ended the day up 5%. This was the sharpest rise after any budget announcement in the last 10 years. While the impact of The Union budget may be visible only over a longer term, the sentiment can often be gauged by these movements. In this note, we take a look at the budget and other big reforms by the government recently that have led to such a change in mood.