Budget 2023 ticks all checkboxes; Adani group stocks played spoilsport

It is typical of markets to rally ahead of the budget proposals and see some profit taking once the measures are announced. This time, however, the Adani group stocks played spoilsport

The key takeaway for me from the Budget 2023 proposals is that there is something for everybody. One key thing before any election budget is that the government takes care of the poor and the lower income strata of the society and ensures infrastructure creation. Proposals this time, too, did exactly just that.

That said, the estimates – be it for the gross domestic product (GDP) growth, fiscal deficit and therefore tax receipts etc. – are quite conservative. The government has been conservatively estimating growth numbers since the past few years; and this time, too, was no different. The huge capex