To sum up, while there are many expectations, some of it may just find a mention in the Budget with more details being spelt out later (like de-control of retail fuel prices and divestment). What's important is that even as hopes are running high, there is a sense of pragmatism about what can be achieved. 

Says Sonthalia, "The markets will like to see an environment for growth and at the same time expect that the deficit be kept under control."

A populist Budget, however, is unlikely to go well with the markets. To know more on the expectations for individual sectors and its likely impact, read on.