The initial reaction of the markets is a big thumbs down. It looks like the markets do not like the fact that Long Term Capital Gains has not been abolished.

Companies would no longer need to pay dividend distribution tax. The tax would now have to be paid by the individual tax payer at his income tax rates.

Personal income tax rates reduced significantly. Those earning up-to Rs 5 lakhs- No tax. Rs 5-7.5 lakhs: Tax rate reduced to 10% Rs 7.5- 10 lakhs: Tax rate reduced to 15% Rs 10-12.5 lakhs: Tax rate cut to 20% Rs 12.5-15 lakhs: Tax rate cut to 25%

The much awaited fiscal deficit number for 2019-20 has been placed at 3.8%. The number for 2020-21 has been placed at 3.5%.

Indian indices are seeing a sharp sell-off with the Sensex down 150 points.

Deposit insurance for depositors has increased to Rs 5 lakh from Rs 1 lakh. This means deposits upto Rs 5 lakhs are insured and safe.

The holding of the govt holding in IDBI Bank would be sold to financial institutions through the stock market. IDBI stock up 12 per cent.

The Finance Minister says that a tax payers charter will be a part of a statute, to avoid tax harassment. "Tax harassment cannot be tolerated".

The Finance Minister has allocated Rs 2,500 crores for the tourism industry.

Govt allocates Rs 28,600 crore for programmes specifically for women

Nirmala Sitharaman announces an enhanced allocation of Rs 9,500 crores for senior citizens.

Govt to launch 'village storage scheme' for women in villages to regain 'Dhaanya Lakshmi'.

The Finance Minister has allocated Rs 35,600 crores for Nutritional programmes.

The FM said that she proposes to provide 22,000 crore to power and renewable energy sector for FY21.

Propose to provide 22,000 crore to power and renewable energy sector for FY21: FM

1,150 trains to be run in PPP mode, also 4 stations to be redeveloped with help of private sector, says Finance Minister.

Finance Minister has proposed Rs 18,600 crores worth Bengaluru Suburban Transportation projects.

Delhi-Mumbai expressway to be completed by 2023.

Govt proposes scheme for manufacturing of cell phones, semi conductors and other electronic devices.

National Technical Textiles Mission has been allocated Rs 1,480 crore.

Investment clearance cell proposed, where free advise and landbank details would be made known.

Urban local bodies should give an opportunity to fresh engineers as internship for upto a year.

1. New Education Policy to be announced soon. 2. ECB and FDI in education.

Rs 12,300 crores allocated for Swach Bharat Mission.

Krishi UDAN will be launched by Ministry of Civil Aviation on international and national routes, improving value realization in North East and tribal districts.

Indian railways will set up a 'Kisan rail' through PPP arrangement for perishable goods transport within the country: FM

1. Funding for warehousing needs. 2. Village storage scheme is proposed. Good holding capacity for farmers. 3. NABARD to map and geotag warehouses 4. Expand PM Kusum Scheme

"Committed to doubling farmer income", says Nirmala Sitharaman. 16 action points for farmers. 1. Comprehensive measures for 100 water scarce districts. 2. 20 lakh farmers to benefit from standalone solar pumps. 3. Balanced use of all kinds of fertilizers encouraged and steps being taken.

This budget is aimed at aspirational India, caring society and economic development, says the Finance Minister.

GST has resulted in efficiency gains in transport and logistics sector, inspector raj has vanished, it has benefitted MSME. Consumers have got a annual benefit of 1 lakh crore rupees by GST.

"Budget aims to boost growth and enhance purchasing power, and address aspirations, say FM

"With renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication. People have reposed faith in our economic policy," Nirmala Sitharaman.

Markets are going into the Budget speech with a sense of optimism. The Sensex is up 115 points, but, may exhibit volatility. Reliance and State Bank of India are leading gainers.

We have not been seeing any reports on recapitalization of banks. A lot of the governments resources have been spent on recap of banks. One will have to wait and watch.

Benchmark indices are going into the Union Budget on a slightly stronger note. The Sensex is up 71 points in trade, after falling in the last two days.

Printed copies of the budget documents arrive in parliament. This is probably the most anticipated Union Budget, in the backdrop of slowing economic growth and mounting fiscal deficit.

The MSME sector, which has received good benefits in the last few budgets, may look for some more, to boost investment. If there are measures to boost liquidity to the sector, it might spur investment.

Indian markets are now firmly trading in the positive. Leading the set of gainers are Reliance Industries and State Bank of India, which posted a good set of quarterly numbers. Expect an increased level of volatility in trade today.

My broad directional expectations from Budget 2020: 1. Tax cuts to put money in hands of consumers. 2. Restart job creation cycle. 3. Revive SME sector. 4. Step up exports. 5. Save auto, textlile, infrastructure and finance sectors. 6. Boost government expenditure.

For the last few weeks, individuals, analysts and economists have been hoping for income tax cuts. The thought is that it would help push demand as disposable income is higher. However, some skeptics see that this would benefit only a section of the population only and may not necessarily spur demand.

Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament, to attend Cabinet meeting at 10:15 am.

PSU stocks have seen intense selling pressure in the last few days running upto the Union Budget. Stocks like ONGC, Oil India and Coal India are down to 52-week lows. Fundamentally, nothing has changed for these companies and some are offering very good dividend yields. One will have to wait and watch for the divestment target set in the Union Budget.

As per tradition, Finance Minister Nirmala Sitharaman has called on President Ram Nath Kovind at Rashtrapati Bhavan before presenting the Union Budget.

Benchmark indices staged some recovery from the day's opening levels. The Sensex, which had opened as much as 220 points lower, is now down only 6 points in trade. Expect more volatility in the next few hours.

Global rating agencies, analysts and economists would watch for the fiscal deficit numbers for 2019-20 and projections for 2020-21. In all probability we would see the fiscal deficit number for 2019-20 estimated at 3.6 per cent to 3.8 per cent.

The one sector that needs an urgent revival is the real estate sector. There are hopes that Finance Minister, Nirmala Sitharaman will do away with the Long Term Capital Gains Tax on sale of property.

Indian markets were trading lower ahead of the Union Budget to be presented at 11.00 am. Foreign Portfolio Investors sold a large amount of stocks in the cash market on Friday. If the trend of selling continues markets might slip below the 40,000 points mark today.

Finance Minister, Nirmala Sitharaman has arrived at the Finance Ministry. She is slated to present the Union Budget at 11.00 am. This would be one of the most difficult budgets to balance. It comes at a time when economic growth has slowed considerably and fiscal deficit is rising.

Taxpayers are looking at the government enhancing the Sec80C limit from the present limit of Rs 1.5 lakhs. It would be good if the same is enhanced to Rs 2 lakhs, as it would help promote savings. Whether that would happen, we would know in the next few hours.

The government may enhance the outlay to the agricultural sector to ensure a boost to rural income and rural demand. This is one area that needs an urgent attention. In the past too there have been giveaways.

The BSE and the NSE would be open for live trading today, though it is a Saturday. The trade timings would be the usual 9.15 am to 3.30 pm. A lot of volatility is expected ahead of the Union Budget. A lot of stocks are slated to be in action, especially some of the consumer names.

The one number that would be keenly watched is the fiscal deficit number. It is widely expected that the number would be in the range of 3.6 per cent to 3.8 per cent for 2019-20 and about 3.4 per of GDP (projected) for 2020-21.

Investors are looking for a cut in the dividend distribution tax and the long term capital gains tax. Analysts say that the loss in revenue would not be too much, while it could boost investor sentiment.

Benchmark indices are expected to open a tad bit lower, on weak global cues. The US markets closed the day with losses as worries over the Coronavirus spreading gained ground.