Union Finance Minister Nirmala Sitharaman is all set to present the budget on 1 February for the sixth consecutive time. Due to the 2024 parliamentary elections, this year’s budget will be an interim budget instead of a full budget.
Although it's an interim budget, traders and investors still keep high hopes and await populist announcements in the wake of upcoming elections. The market is watching out for different announcements and their impact on various sectors.
Here are some industries that should be on your radar ahead of the interim budget.
Real estate
In 2023-24, the real estate sector proved resilient, with sales returning to almost 90% of pre-COVID levels in a few cities. The real estate sector will be a key focus area in the upcoming union budget.
The industry expects several key announcements from this year’s budget, including an increase in rebate for home loan interest, revision in GST input tax credit rules and modification in the upper threshold limit under the affordable housing segment.
Consumption
The consumption sector could be another crucial sector that should be on your radar. Keeping the Lok Sabha election in mind, the government could announce several populist measures, including lower tax rates and increased allocations towards schemes like PM Kisan and MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act).
Meanwhile, the retail industry expects the government to announce several growth-oriented measures to stimulate demand and consumption. This includes supportive policies, simplified regulations and goods and services tax (GST) norms to aid the development of the retail industry.
Infrastructure
The infrastructure sector, which encompasses several industries, including railways, highways, ports, airports and others, has seen tremendous growth in budget allocation in the past. Infrastructure capex increased significantly to ₹10 lakh crore, up 33% in the previous budget.
In this year’s interim budget too, the government's primary emphasis could be on fostering economic growth through increased capital investment (capex) in segments like highways, railways, and urban infrastructure.
Railways can see a decent increase in capex to expand its network and continue expansion of the high-speed rail network, including the launch of more Vande Bharat trains.
Road and highway ministry could see a double-digit rise in capex allocation amid the government's heightened focus on the development of highways and urban infrastructure.
💜 watching our videos? We love making them for you! Leave a comment and tell us what you would like to see next👇
📹 Share & subscribe to our YouTube channel for daily updates 🔔 [ Ссылка ]
------------------------------------------------------------------------------------------------------------------------------------
About Upstox:
💑Trusted and loved by 1 crore+ Indians, Upstox brings everything you need for trading and investing on a single platform. Whether you’re looking to invest in Stocks, ETFs, Mutual Funds, SGBs, T-Bills, Bonds, IPOs or you’re looking to start trading in Equities, Options, Futures, Currencies and Commodities, Upstox has it all!
🙌 Backed by Mr. Ratan Tata and Tiger Global - Upstox aims to help every Indian confidently UP their wealth. From our mobile app (which btw is India’s highest rated trading app on Playstore) you can learn, discover, analyse, invest and trade.
🤝 Wish to join our family? Download our app now👇
iOS users [ Ссылка ]
Android users: [ Ссылка ]
And click here to open an Upstox Demat & Trading account with just a PAN, Aadhaar, eKYC
[ Ссылка ]
------------------------------------------------------------------------------------------------------------------------------------
📖 Want to UPskill? Register for our investing and trading workshops by industry experts for free: [ Ссылка ]
💬 Got questions on your mind? Connect with like-minded traders, ask questions and discuss any doubts - our subject matter experts will resolve them in no time. Join the Upstox Community for free: [ Ссылка ]
💸 Want to know how much you’ll earn from your investments? Calculate returns, brokerage charges, margin and more [ Ссылка ]
💜 Show us some love on Social Media and get regular updates on the market:
1) Subscribe to our Telegram community here: [ Ссылка ]
2) Follow us on Instagram here: [ Ссылка ]
3) Follow us on Twitter here: [ Ссылка ]
4) Follow us on LinkedIn here: [ Ссылка ]
