Is the post-Budget rally sustainable?

He said real estate sector should be especially happy since it has received specific sops

The Budget was well-received with the market recording broad-based gains on Budget day. The rally may have been partially based on the sentiment of relief. There were no major changes in the tax treatment and there was indeed some tax relief for corporate and individuals.

The perception is also that the Budget has several positives. There is an attempt to boost infrastructure spending and also to encourage private sector investment and consumption across the board. The abolition of the FIPB may cut down the red tape associated with foreign investment inflows.

The real estate sector should be especially happy since