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Some give thumbs down to budget, slam STT, lack of safety steps for women

Foreign Institutional Investors (FIIs) compare India with other emerging markets. If transaction costs rise without corresponding structural benefits, it could reduce India’s relative attractiveness.

3 min readPuneFeb 2, 2026 01:01 AM IST

Budget, budget allocation, Union Budget 2026, Nirmala Sitharaman, Securities Transaction Tax, safety steps for women, Indian express news, current affairs

''The increase in STT in Union Budget has clearly come as a disappointment for day traders, investors and foreign institutes. Higher STT sends a conflicting message to equity investors,'' said Gaurav Bora, a stock market expert.

Not all are cheering the Union budget presented by Nirmala Sitharaman in Parliament on Sunday. In the forefront are traders and investors of the stock market who are sorely disappointed at the budget increasing Securities Transaction Tax (STT). Even women’s organisations seem to be unhappy with the budget as it does not include their safety measures.

”The increase in STT in Union Budget has clearly come as a disappointment for day traders, investors and foreign institutes. Higher STT sends a conflicting message to equity investors,” said Gaurav Bora, a stock market expert.

Bora said STT directly impacts trading costs. ”Whether retail participants, high-frequency traders or institutional investors, every transaction becomes marginally more expensive. Over time, this reduces trading volumes, affects liquidity, and may dampen overall market participation in benchmark indices like the Nifty 50 and BSE Sensex,” he said, adding that the move is negative for stock market.

Foreign Institutional Investors (FIIs) compare India with other emerging markets. If transaction costs rise without corresponding structural benefits, it could reduce India’s relative attractiveness.

Small scale industries do not seem to be entirely happy. ”While we welcome overall budget, it must be mentioned that there is no relief in income tax. Similarly, the GST on vehicles has not been reduced. While the import duty on vehicles from European Union has been reduced, the same benefit has not been extended to local market by reducing GST. The government has not provided level playing field for the local industry,” said Sandeep Belsare, president of Pimpri-Chinchwad Small Scale Industries Association.

Similarly, Durga Bhor, president, Pimpri Chinchwad Women Small-Scale Entrepreneurs Association, said, “This year’s budget appears to focus on women and youth, which is certainly a welcome move. However, alongside this optimism, there is a sense of regret that certain expectations remain unfulfilled. More concrete measures were expected for women’s safety, particularly regarding safe public transit and dedicated transport facilities for women in urban and industrial areas. From a health perspective, the basic need for clean and safe public toilets remains unaddressed in many places. The construction of high-quality restrooms for women along national highways, in industrial zones, and in marketplaces should have been a top priority which is lacking in the budget.”

Echoing the views, Amika Limbu, a resident of North-East who is a frequent visitor to Pune, said, “I welcome the Finance Minister’s move for proposals to construct a girls’ hostel in every district of the country. I would like to urge that there should be more focus on safety of women particularly from the north eastern part of our country. Whenever I am in Pune, I am reminded of the attacks on fellow citizens from North-East. I demand that separate police stations for North-East citizens and helplines in every district of the country, including in places like Pune, Mumbai and Delhi should be set up.”

Manoj Dattatrye More

Manoj Dattatrye More is a Senior Editor at The Indian Express, having been with the publication since 1992. Based in Pune, he is a veteran journalist with a 33-year career that spans editorial desk work, investigative reporting, and political analysis. Professional Legacy Experience: He spent his first 16 years on the editorial desk before moving into active field reporting. He has written over 20,000 stories, including more than 10,000 bylined articles. Impact Journalism: He is widely respected for "campaign-style" reporting that leads to tangible social change. Road Safety: His decade-long campaign regarding the dangerous state of the Pune-Mumbai highway in Khadki resulted in a ₹23 crore reconstruction project in 2006, which dramatically reduced fatalities. Environmental Protection: His reports against tree cutting on the Pune-Mumbai and Pune-Nashik highways saved approximately 2,000 trees. Anti-Corruption: During the COVID-19 pandemic, he exposed a scam where doctors were being asked to pay bribes for government jobs, resulting in them being hired without payment. Recent Notable Articles (Late 2025) Manoj More's recent work focuses heavily on the shifting political landscape of Maharashtra and civic governance in the Pimpri-Chinchwad area: 1. Political Shifts & Alliances "Ajit Pawar's NCP continues domination in Pune, wins 10 of 17 local bodies" (Dec 21, 2025): A major report on the local self-government election results, detailing the NCP’s stronghold in Baramati, Indapur, and Lonavala. "BJP ropes in 13 ex-corporators, deals major blow to NCP" (Dec 20, 2025): Reporting on a significant political defection in Pimpri-Chinchwad as the BJP gears up for civic polls. "Congress opts for solo BMC run as alliance talks with Sena (UBT) collapse" (Dec 17, 2025): Covering the breakdown of Maha Vikas Aghadi (MVA) talks for the Mumbai civic elections. "NCP(SP)'s Rahul Kalate, Sena (UBT) leader Sanjog Waghere set to join BJP" (Dec 19, 2025): Detailing high-profile party-hopping ahead of the municipal elections. 2. Civic & Administrative Accountability "PCMC draws ire for issuing tenders worth Rs 250 crore just before poll code" (Dec 17, 2025): An investigative piece on the Pimpri-Chinchwad Municipal Corporation’s last-minute spending spree before election restrictions. "93 killed in 76 accidents in five years: Bypass service roads in Pune remain undeveloped for 18 yrs" (Nov 16, 2025): A critical look at the long-delayed infrastructure projects contributing to fatalities on Pune’s bypass roads. 3. Social & Labor Issues "As state says TCS has laid off 376 employees: FITE flags figures, say nearly 2,500 were forced to quit" (Dec 11, 2025): Investigating conflicting reports regarding IT sector layoffs in Maharashtra. "Maharashtra govt move to 'downgrade' Aadhaar cards" (Nov 30, 2025): Reporting on the state’s decision to require additional documents alongside Aadhaar to combat identity misuse. Signature Beat Manoj More is the definitive voice on Pimpri-Chinchwad, an industrial hub he has covered for three decades. His reporting is characterized by its aggressive stance against local "gondaism" (thuggery) and a relentless focus on civic infrastructure—choked drains, garbage management, and public transport. X (Twitter): @manojmore91982 ... Read More

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