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Less support for banks, more infrastructure!

From IBNLive.......

Holding the line
Importantly, Jaitley said he would stick to the government's existing fiscal deficit target for the coming year, at 3.5 percent of gross domestic product, down from 3.9 per cent in the fiscal year just ending.
That news lifted government bonds and the rupee as market fears that Jaitley would backslide on the deficit were not borne out.
Reflecting tough fiscal constraints, the government will set aside 250 billion rupees ($3.6 billion) to recapitalise state banks. That is less than expected by markets and below the needs identified by finance ministry adviser Arvind Subramanian in his pre-budget report.
"We stand solidly behind these banks," Jaitley said. "Our public sector banks will be strong and well supported."
The news hit banking stocks in trading on the Mumbai stock exchange, although infrastructure firms rallied on Jaitley's announcement that the government would allocate $32 billion for infrastructure development in 2016/17.
India would build 10,000 km of new national highways and upgrade another 50,000 km