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.”