When the whole world is reeling under the recession India cannot perform a magic . A lot was expected from the budget alas! hopes were belied. Without any formal announcements, retrenchments have been going around. There was an expectation in the field of infrastucture and power but the budget didn't speak about anything in substantial. The stock markets in India gave a thumps down to the budget.
It seems that the government is treading cautiously in the recessionary period. The Bankex suffered a lot because of widening fiscal deficit. On the whole,(though some reports suggests that the worst is over for India but my gut feeling says it is already here and expect it to grow in the coming months) in the globalised economic structure no country is insulated from financial turmoil.
