Investors Await Full Budget 2024 with High Expectations
After the Lok Sabha elections, all eyes are now on the upcoming full budget announcement, scheduled to be presented in the third week of July. The finance minister has already conducted pre-Budget consultations with experts from the financial and capital markets sector, gearing up for the Union Budget 2024-25.
Experts believe that the Indian stock market has been maintaining a positive trend post-elections, with gradual growth every week. Vinod Nair, Head of Research at Geojit Financial Services, stated, “With a coalition government in place, there is optimism that the upcoming budget will strike a balance between growth initiatives and populist measures.”
Market performance ahead of the Full Budget 2024 is being closely monitored, with expectations of increased market volatility. Prashanth Tapse, Sr VP Research analyst at Mehta Equities Ltd, anticipates a focus on capital expenditure to boost the economy towards reaching the $5 trillion mark.
The Final Budget 2024 is expected to address key areas such as fiscal measures for economic growth, infrastructure spending, and incentives for domestic manufacturing. Ajit Mishra of Religare Broking Ltd highlighted the traction in agriculture-related themes and suggested aligning positions with sectors like banking and IT.
Looking ahead to the July Budget 2024, Prashant Tapse suggests focusing on sectors like Infrastructure, Defence, Railways, Energy (especially renewable sector), Agriculture, EV, and boosting the MSME sector. The budget is expected to prioritize reforms to attract foreign investment, simplify the tax regime, and promote green energy and sustainability.
Overall, investors and traders are eagerly awaiting the full budget announcement, with high expectations for measures that will drive economic growth, support key sectors, and propel India towards its $5 trillion economy goal.
