Budget 2016: Verdict on if it was historic will come in 10-15 yrs, says Sinha

In the long sweep of history, we need 10 or 15 years really to know whether a Budget has been truly historic or not," Minister of Finance (State) Jayant Sinha said at the 'CNBC-TV18 Mint Budget 2016: The Verdict' in the capital on Tuesday. "In the meantime, you get flashes," he added, referring to the rally in the stock and bond markets. According to Sinha, the reaction of the bond market was a better indicator of the credibility of the Budget. The decline in yield on 10-year government bonds to 7.62 percent from 8 percent showed the bond market was convinced about the Budget. The fall in yields would reduce the government's debt burden and give it more finances to implement the various schemes for the deserving, he said. 

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