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The Budget's proposals of hiking taxes for the rich and duties on certain products like automobiles and cigarettes may appear anti-rich. But, the emphasis and higher fund allocation to rural India and infrastructure could be game-changers. State allocation to social and infra schemes is also rising.
All these should have a ripple-effect on consumption and industrial demand. Importantly, if the government is able to stick to fiscal deficit targets it will ease systemic liquidity and interest rates for corporates and consumers. The combined effect will lift economic growth and corporate earnings
