Indian Union Budget 2021-22: As we step into the new year following a year that was ransacked by the pandemic, eyes will now be glued on Finance Minister Nirmala Sitharaman as absolutely everyone gears up for the Union Budget 2021. The Finance Minister has currently promised a ‘never before’ like Union Budget. It will also be fascinating to see how stock markets execute on the day Union Budget is unveiled this year. So far Nirmala Sitharaman’s Budget day speeches have failed to cheer Dalal Street. But that has not often been the case.
Union Budget 2020-21
At the starting of this year when Nirmala Sitharaman opened her ‘bahi-khata’ to announce measures such as shifting dividend distribution tax to people from businesses and introducing new selection earnings tax prices, Sensex and Nifty had been not impressed. S&P BSE Sensex opened at 40,753 on February 1 for the Union Budget and closed at 39,735. The Nifty 50 had opened at 11,939 and slipped to close at 11,661. During the week, following the price range, each Sensex and Nifty did re-achieve just about all their price range day losses.
Union Budget 2019-20
Nirmala Sitharman’s initial Union Budget was presented on July 5, 2019. This was also the initial price range of the second term of the NDA government. Sensex had begun trading at 39,990 on the day although the 50-stock Nifty was at 11,946. It was the day when Nirmala Sithraman unveiled the Modi government’s $5 trillion economy objective. This had back then failed to cheer investors who sent the stock markets reduced. This led to Sensex closing at 39,513 although Nifty ended at 11,811.
Union Budget 2018-19
What went on to be Arun Jaitley’s final Union Budget saw Sensex and Nifty fall marginal on the day of the Budget. Overall the S&P BSE Sensex closed 142 points reduced on the day although Nifty erased 28 points. In the week following the price range day, each Sensex and Nifty added to their losses as they continued to move reduced with each and every passing day.
Union Budget 2017-18
This was the final Union Budget that brought smiles on the faces of Dalal Street investors. S&P BSE Sensex had on this day opened with 27,669 points and till closing was up at 28,141. The broader Nifty 50 was also noticed zooming ahead going from 8,570 to 8,716 on the Union Budget day. The upward march charted by the benchmark indices was not restricted to the Union Budget day but continued for the week ahead with Sensex closing at 28,334 and Nifty at 8,793.
Union Budget 2016-17
The second complete price range of the Modi government saw Sensex and Nifty slip in the price range day. Sensex went from 23,238 at the starting of the Budget day to 23,002 at the finish of it, Nifty 50 was noticed slipping 63 points to finish the day reduced at 6,987. However, the fall was reversed in the week ahead of the price range when each Sensex and Nifty zoomed, erasing all gains. A week later Sensex was at 24,646 although the Nifty 50 was at 7,485.