REACTION TO BUDGET 2024
Electoral shock dashes hopes of rate cut
Food inflation challenges RBI, impacting rate cuts. Elections, populist spending, and fiscal landscape influence rate cut decisions.
'Stock market rally' from June 4, predicts PM Modi: Should stock, mutual fund, gold investors tweak portfolios before Lok Sabha election results?
Lok Sabha election results 2024: Prime Minister Narendra Modi said that the stock market would have a rally once the election results are out. A few days back, Union Home Minister Amit Shah asked investors to buy the dip before June 4, 2024, as the market will shoot up after that. Now the question is what should investors do till the election results are out? Is it time to accumulate more stocks or avoid the volatility and play it safe? Find out here
2024 Interim Budget: Emphasizing policy continuity in a mature economy
The interim budget is reassuring with no big surprises. The fiscal deficit target for FY24 will be met and a tighter target is proposed for FY25, freeing up space for private borrowings. The budget focuses on trade, tourism, and transportation, with investments in railway corridors, airports, and public transport. It also supports the PLI and IDEAS schemes and emphasizes managing inflation and inclusive growth. The budget addresses women's and children's health, housing, and sustainability through the rooftop solar scheme. Overall, it indicates the government's intent and sets expectations for the full budget.
What does lower interest rates and lower inflation mean for market valuations right now? Nilesh Shah explains
Nilesh Shah explains: "Lower interest rates in India are unlikely to benefit India Inc. due to low leverage, but they do help on the valuation side, leading to higher equity market valuation. Concerns remain about India's premium valuation, but if local interest rates decrease, valuations will be re-rated, potentially pushing rating agencies to upgrade India's rating."
Budget: Government’s big push on infra, innovation and technology to spur growth
The budget's emphasis on the growth and global competitiveness of businesses is aimed at fostering a robust ecosystem for economic growth.
Budget 2024: 10 key points to know & stock market reactions
The Finance Minister announced the interim budget with a focus on the upcoming general elections. While many people were hoping for tax relief, it was understood that major policy changes could not be made as this was an interim budget and not a full annual budget. So, what were the key hig...
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This report card budget has given positive signals for equity markets: Sunil Subramaniam
The reduction in interest rates in the debt market is leading to increased flow of money into hybrid funds, which provide a tax-efficient way to participate in the reducing debt market. This has positive implications for the private sector as it reduces the crowding out effect of the government, leaving more capital for private sector borrowing. The lower borrowing program announced by the government also reduces pressure on yields, resulting in mark-to-market gains for banks and mutual funds.
Budget outlines comprehensive roadmap for sustained economic growth: Kiran Mazumdar-Shaw
Kiran Mazumdar-Shaw commends Nirmala Sitharaman's comprehensive roadmap for India's sustained economic growth towards developed economy status by 2047. The budget prioritizes research, innovation, bio manufacturing, infrastructure development, and technology-driven digital transformation. No tax change is a positive aspect.
Interim Budget evokes mixed response from Indian business community in Gulf
Mixed reactions from the Indian business community in the Gulf to India's interim Budget for 2024-25. Some hailed it as forward-looking and a vision statement for the journey from developing to a developed country by 2047. Others voiced disappointment over the absence of tax reliefs for individuals.
Budget 2024: How is Sitharaman placed between Chidambaram and Piyush Goyal?
Sitharaman is likely to follow the footsteps of previous finance ministers by incorporating electoral math into the budget. However, she plans to lower the budget deficit and increase capital spending, limiting the scope for large welfare schemes. Instead, smaller targeted benefits may be offered to critical voter segments such as tribals, OBCs, and females.
Budget 2024 announcements: When and where to watch live stream and telecast of finance minister Sitharaman's speech today
Budget 2024 announcements : Finance Minister Nirmala Sitharaman is expected to exercise fiscal prudence in the interim budget 2014 before the upcoming elections, which will be subsequently replaced by a new budget after the formation of the government post the April-May elections. The budget is anticipated to serve as an economic manifesto, outlining Prime Minister Narendra Modi's vision for the next five years. Sitharaman's upcoming budget presentation is significant as it marks the final budget before general elections.
The beast called interim budget: An outgoing govt's budget or a returning one's?
Union Budget 2024: In the run-up to the upcoming General Elections, the shape of India's interim budget remains unpredictable, given its historical variability. Past interim budgets have showcased a mix of fiscal responsibility and populist measures, reflecting the government's economic and political considerations. As FM Nirmala Sitharaman prepares to present the budget, the nation awaits an announcement that could impact the course of India's $5 trillion economy by 2025.
It will be interesting to see how FM balances Budget to trim fiscal deficit to near 4.5%: Mihir Vora, Trust MF
Mihir Vora says: "The Budget being an interim budget should not have any major shocks, but it will be interesting to see how they balance the imperative to trim the fiscal deficit to as close to 4.5% which is the glide path that we have to show especially given the fact that this is going to be the year in which Indian bonds get introduced to the global bond indices. So, my guess is about 50 basis points reduction in the fiscal deficit will be shown."
Debt market outlook 2024: Why has the environment turned favourable?
Besides the US Fed, ECB is increasingly confronted with calls for rate cuts given that deteriorating economic momentum shows the eurozone economy has more problems digesting higher rates than the US. The downward surprise in November inflation brought forward the market pricing of the first ECB rate cut to March 2024, with a total of 125 basis points of cuts priced in for 2024.
ETMarkets Smart Talk: Markets will closely track capex numbers, rural & housing scheme spends, and taxation: Niraj Kumar
The government may take steps to nudge greater retail participation and deepen the bond market in the interim budget 2024. Markets have hit record highs reflecting strong investor sentiment, but consolidation is possible. Fiscal deficit numbers will be closely tracked, along with capital expenditure, rural & housing scheme spends, and taxations. Bond investors may see tweaks to make the segment more attractive, and interest rates are expected to lower, leading to capital gains. The budget will focus on infrastructure, PLI schemes, green energy, agriculture, rural, FMCG, and auto sectors.
Top 8 threats to the global economy in 2024: A pessimist’s guide
The Middle East conflict, with the potential to choke off oil flows and push inflation higher, poses a risk to global growth. This conflict could escalate tensions in the Red Sea and draw Iran deeper into the fighting. The Federal Reserve's pivot to rate cuts could be burned by a supply shock from the Middle East or looser financial conditions. Europe faces the risk of a deep recession as the European Central Bank and Bank of England conclude their tightening cycles. The global economy could be impacted by the wobbling of the world's second-largest economy, China, and the potential loss of control of the yield curve in Japan. Ukraine's failure to counter Russia could have implications for the US as a reliable ally.
Can Sensex give 60% returns again in 2024? How to manage your stocks in election year
2024 is an election year not only in India but also in USA. Time period leading to general election is known to face high volatility in the stock market. Assessment of equity market movement around elections throws interesting insights which investors can use to manage their equities in the election year 2024.
Budget 2024: Bharat at the heart of Budget's economic reforms to help India glitter
Interim Budget: The upcoming Union budget shifts focus to Bharat, India's rural heartland powering 65% of its populace and pivotal GDP contributions. Envisioning a USD 5 trillion economy hinges on rural sector metamorphosis. The budget signifies a pivotal moment to recommit to rural upliftment. It’s not just about sustaining growth but orchestrating transformation via a multifaceted strategy—prioritising policies, infrastructure, education, and tech advancements to unlock untapped potential, ensuring holistic and inclusive progress.
Karnataka govt increases excise duty on IMFL and beer
Karnataka Chief Minister Siddaramiah has increased additional excise duty on IMFL and beer while presenting the State Budget for 2023-24 in the Legislature. The government increased existing rates of additional excise duty on Indian Made Foreign Liquor by 20% on 18 slabs. It also increased the additional excise duty on beer from 175% to 185%.
'Everybody's favourite slab!' Amul gets quirky with new topical on Budget 2023
This was Sitharaman’s fifth full Budget after she took over as Finance Minister in July 2019.
Budget 2023: New tax regime, hiked cigarette prices invoke hilarious memes on Twitter
The Finance Minister has announced 16 per cent increase in NCCD on cigarettes.
Govt has shown tight grip on every aspect of economy: Vallabh Bhanshali
Conservatism that we saw last year has continued in fair measure, it may not be the same because last year revenue expectation was way below, what a lot of analysts picked up.
Sensex & Budget: How stock market may react on B-Day
After the stress on the market seen in the run-up to the event, post-budget sessions may actually turn out to be better as historical data shows that a week after the Budget, the index has delivered an average return of 1.36% in the last 15 years.
How markets have reacted to Budget for last 10 years under 4 different FMs
Finance minister Nirmala Sitharaman delivered the budget on 1 February. The Nifty rose for the second consecutive time on the Budget day and welcomed the Budget 2022 with great vigour. The Nifty closed the budget day session on a cheerful note, rising 1.4%. However, the sentiment turned sour and the Nifty saw the fourth worst month between 2011-2022, shedding 4.5%.
The good, bad and ugly of Budget 2022 for investors, companies & common man
Some measures introduced in the Budget would make for good news to India's investors, companies and the common man, while some of them can be seen as coming pain points for these sections.
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