The Indian stock market has had a very quiet build up to Budget day 2010.
As the graph below shows: after a massive recovery from the March 2009 lows, Indian equities have been trending sideways since July 2009.
Market watchers will be looking for more sops to the agriculture sector and the infrastructure sector, and a possible gradual roll back of excise duty cuts and the stimulus package. A hike in service tax is also widely expected.
So far we are yet to hear anything on reforms towards market pricing in the Petroleum sector.
With Oil prices trading just under $80, maybe we will hear more on the governments subsidy sharing plan.
Let's see how it goes.