FUND VIEW - Fund managers react to budget 2009/10

MUMBAI (Reuters) - The new government outlined measures on Monday to speed infrastructure development and increased spending for farmers and the poor in its first budget.

Finance Minister Pranab Mukherjee pledged to return the country to the high growth rate of 9 percent a year as soon as possible, while estimated growth in 2008/09 at 6.7 percent.

Following are the reactions from fund managers to the Indian budget for 2009/10:

SANJAY SINHA, CEO, DBS CHOLAMANDALAM ASSET MANAGEMENT:

"I think the market seems to be over-reacting. There's definitely disappointment with the extremely high fiscal deficit, (but) at the same time there are welcome announcements focusing on infrastructure, both urban and rural."

PRATEEK AGRAWAL, HEAD-EQUITY, BHARTI AXA INVESTMENT MANAGERS:

"Nothing that was expected has happened except for some bit of focus on infra. But he did not say anything about divestment, he did not say anything about insurance. All of that are having an impact on the market.