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@article{174710,
        author = {Akash Kumar and Akash Prajapati and Dr. Rohtash Bhall},
        title = {A Study on Impact of Union Budget on Nifty50 and Volatility},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {11},
        number = {11},
        pages = {530-533},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=174710},
        abstract = {The study examines the impact of Union Budget announcements on the Indian stock market, focusing on key indices such as NIFTY 50. Using a descriptive research design, the study employs historical data from NSE/BSE spanning 2020 to 2024 and applies statistical tools such as the T-test to assess market volatility and rate of return before and after budget announcements. The findings suggest that while long-term volatility increases significantly post-budget announcements, short-term and medium-term volatility remain statistically insignificant. Similarly, the analysis of NIFTY 50 returns indicates no significant impact of budget announcements across different time frames. The study concludes that although budget announcements may trigger short-term fluctuations, they do not have a sustained influence on market performance. Investors should exercise caution around budget periods due to short-term volatility, while regulators may consider real-time market monitoring. Future research could explore sector-wise impacts of budget announcements to provide more granular insights into market behavior.},
        keywords = {Union Budget, Stock Market, Volatility, NIFTY 50, Market Reactions, Investor Sentiment, Statistical Analysis, Event Study, Fiscal Policy.},
        month = {March},
        }