A Study of Union Budget Impact on Indian Stock Market

This study focused on the event of Union budget on Indian stock market, the analysis has been made between a periods of 2012- 13 to 2015-16. Union Budget is considered to one of the major economic event which takes place every year. The direction of Indian economy is drafted by government of India through Union Budget. Volatility index (Vix) of the index was observed high throughout the month of February every year. Sharp differential Measures indicate that the performance of market goes to one direction after budget announcement and its analysis by the investors. Regression weight estimation initiated that Indian growth is influenced by the fiscal deficit. This analysis is useful for the equity investors namely Retail investors, Domestic Institutional investors (DII), Foreign Institutional Investors (FII) etc.