From Morgan Stanley to Motilal Oswal, brokerages disappointed with Budget

Despite a slowing economy, the budget does not envisage any major stimulus through the budgeted fiscal deficit figures, said Goldman Sachs.

Most foreign and domestic brokerages have given a thumbs-down to the Budget 2020 proposals unveiled last week and called it a missed opportunity for the government to revive economic growth. Auguring that the proposals will not be able to lift economic sentiment as measured by the gross domestic product (GDP), they see more pain for the economy – at least in the short-to-medium term.

While the markets showed their displeasure during the special trading session on Saturday with the S&P BSE Sensex slipping nearly 1,000 points – their worst Budget-day showing since 2009, they remained range-bound in trade on Monday.