If one could forecast this...then its as good as doing TA on budget! I hope traders are not getting this extreme :-)
However, if you sniffed around for what the expectations are then few things come to light..
1) Auto Sector - While import duties rates continue to maintain a status quo there could be some positive surprise to revive the struggling sector.
2) Infrastructure - This is obviously high on the agenda but its a huge challenge. Backlog of pending projects may prohibit fueling new projects. So as opposed to the popular expectation I'm personally expecting no new, major infrastructure projects. My guess is the govt will move slow but hard :-)
3) Oil and Gas - This is a highly complicated sector with really powerful corporate with highly influential lobbyist. Recently the Govt decided to defer the gas pricing issue...and have also decided to take a hard look at the Rangarajan Gas pricing formula. Dont ask me what this means but my guess is the Govt wont be in a hurry to announce any earth shattering reforms here
4) Agriculture - This really is the low hanging fruit for the Govt. The Govt on multiple occasions have emphasized on bringing in a green revolution. The expecation is to bring in tangible reforms and policies pertaining to minimum support price, import duties, fertilizers, irrigation etc
5) Personal Income Tax - As a 'thank you India' message for bringing in the BJP to power, they may just increase the bar on minimum tax free amount an individual can retain. I hope this happens!
6) GST - The Govt may take initiatives towards rolling out a unified tax code by bringing in the Goods and Service Tax (GST) act.
Hope we get some relief in the exemptions and increase in slabs.
Thanks for taking the time to explain this to me.