Budget 2016: Nothing transformative apart from abiding by fiscal deficit target, says Mythili Bhusnurmath, ET Now

The PSU banks' recapitalisation figure is not going to make much of a difference, says Mythili Bhusnurmath, Consulting Editor, ET Now. In an interview with ET Now, she also states that that there is not much transformative element in the budget. Edited excerpts:

ET Now: PSU banks recapitalisation, they were expecting Rs 35,000 crores. Only Rs 25,000 crores has been given, not enough really?

Mythili Bhusnurmath: It is not going to make a difference either way, it is very nominal I would say. In fact the Finance Minister started off by saying it is transformative budget.

I do not see anything transformative at all, except that he has abided by the fiscal deficit target. For all the hot air discussion that we had, markets clearly do not appreciate it very much for having walking straight and narrow.