Budget 2013: Fiscal discipline this year far more credible, says Reliance Capital

Madhusudan Kela, chief investment strategist at Reliance Capital, speaks to NDTV Profit about the Union Budget from the market’s perspective. He says that the Finance Minister has delivered a lot in the past 6 months and the fiscal discipline show is far more credible than last year, adding that the Union Budget could have been a lot worse. He explains that market reaction was also on account of derivatives expiry, not just the budget.