Positive impacts:

1. Tax incentives: The budget introduced tax incentives for start-ups, small and medium-sized enterprises (SMEs), and individual taxpayers, which could boost economic growth and job creation.
2. Infrastructure development: The budget allocated significant funds for infrastructure development, which could lead to increased demand for construction materials, engineering, and infrastructure-related stocks.
3. Digitalization: The focus on digitalization and digital payments could benefit technology and fintech companies.

Negative impacts:

1. Increased taxes on high-income individuals: The budget introduced a new surcharge on high-income individuals, which might affect their disposable income and consumer spending.
2. Rationalization of tax exemptions: The government’s decision to rationalize tax exemptions might lead to a negative impact on certain industries, such as real estate and pharmaceuticals.
3. Increased costs for businesses: The budget’s emphasis on making India a more business-friendly environment might lead to increased costs for businesses, such as higher compliance costs and taxes.

As for the bull market or bear market prospects:

• Short-term volatility: The budget-induced volatility might lead to short-term fluctuations in the market. However, it’s essential to remember that the Indian economy is expected to grow at a moderate pace in the coming years.
• Long-term outlook: The budget’s focus on infrastructure development, digitalization, and job creation could lead to a sustained bull market in the long term.
• Sector-specific performance: Some sectors, such as technology, pharma, and consumer goods, might continue to outperform in the coming months due to their inherent strengths and growth prospects.