'Dhoka' Budget 2018

   

   

The fact that, ahead of Budget 2018, market regulator SEBI and stock exchanges have taken precautions by asking brokers to collect higher margins from those with sizeable positions in futures and options i.e. foreign institutions, wealthy investors and proprietary desks anticipating a significant run-up in the equity market indicates that Modi, Jaitley & Co are fully aware of distressed economic condition and their worst budget 2018, and that their talking bluffs on the floor of the house will not go down well on stock market operators. Expectedly,  Sensex lost 1000+ points on Budget Day and aided with global negative indicators lost another 1000+ points on the following day. Investors saw their wealth erosion of nearly Rs.10 lakh crores. 

Ironically, Budget 2018 (a 'Dhoka' Budget) satisfies none and every segment stands aggrieved. 

Moody's recent conditional upgrade of India to 'baa2' may very well get reversed to 'baa3' which is only a notch above 'junk' category.

Today, every economic indicator is worse than that of 2014 (when Sonia Gandhi-Manmohan Singh's Congress led UPA was voted out and Modi's BJP led NDA was voted in) and Modi & Jaitley owe an explanation to the nation where the '3 year low oil bonanza money 2015-2018' of over Rs. 6 lakh crores was squandered away, while our PSU banks are starved of recapitalization funds arising out of mounting NPA's.? 

P.Chidambaram, former FM analyses that the Budget overstates income, understates expenditure the realistic deficit could be 4.15% of GDP and if  National Health Protection Scheme for Rs.5 lakhs health insurance for poor takes off with an estimated expenditure of between Rs.10,000 crores and Rs.1,00,000 crores leaves a very big hole in the budget with run away inflation. If crude oil prices goes up, there will be serious trouble.

Riding on economic distress and unpopularity, Modi's BJP suffered electoral reverses. Extrapolating Gujarat election results (swing of 9%) and Rajasthan bye poll losses (swing of 18%), Modi's BJP may not get even 240/542 LS seats in 2019 general election. Modi's charisma is waning and Rahul Gandhi's popularity rising, sends jitters to Modi and BJP. If NDA allies walk out of alliance, which is quite likely, Modi & BJP will have to sit in opposition benches.

What Sonia Gandhi could't achieve in 10 years, Modi is likely to do it in just 5 years! 

It is not development of India but making Rahul Gandhi as Prime minister!