All throughout February, the budget concerns managed to shake up the Indian stock market, and it was more-or-less much volatile. However, a bit of consolidation was seen by the time the end of February rolled in. While the Rail Budget did not have much of an impact, the Union Budget was responsible for many upheavals.

On the day that the Budget was released, the Sensex added 175 points, which went down in history as the biggest single day gain for the month of February 2010. Except for the increase in fuel rates, it seems that the Budget was pretty decent overall.

Well, at least that is what it seemed like, but now people are worried about the impacts of the latest Budget on inflation and an economy coming out of the recession. While it is true that the recession never hit India that hard to begin with, some serious impacts on jobs and other economic data cannot be denied.

Nilesh Jasani, MD and Head Research of Credit Suisse has stressed that 2010 will be a volatile and "tricky" year for India as far as the equities go, "It's going to be one of those years where we will at times fall a lot and we are going to go through that particular period for the next few months and then if one or two things go right, it should fairly easily pick up from there and ride about 50-60% from the bottom", he said. Add the budgetary impacts to that, and things do not seem to be very promising.

But then there are other experts who believe that the Sensex might just manage to pull through, although they have doubts about the impending price rises that could result from the hike in prices of petrol and diesel.

Let's wait and watch and keep our fingers crossed, all the while praying for a better market than last year at least.