Budget to spur consumption, bodes well for capital market: Experts

The budget announcements, including direct cash transfer to farmers, will provide a major impetus for consumption and bode well for the capital market, experts said.

The budget, presented by Finance Minister Piyush Goyal on Friday, is a well-rounded attempt of presenting something for everybody, they added.

Manish Gunwani, CIO Equity Investments at Reliance Mutual Fund, said the budget -- the last before the general elections -- is pro-consumption as significant stimulus has been provided for farmers and middle class.

"I congratulate the Finance Minister for delivering a growth-oriented budget benefitting various sections of the society and stating out the vision to make India a USD 10 trillion economy, a daring and laudable move.

"Adherence to fiscal prudence despite providing benefits to the middle-class, farmers, and the unorganized sector will boost consumption, improve social security and ultimately revitalise the Indian economy, which bodes well for the capital markets as well,"