Will the government’s fiscal prudence signal a dovish pivot from the RBI?
What deserves credit is that despite delivering the customary pre-election sops, the budget exercised restraint and did not lose sight of long-term value creation
Lessons to learn from the Paytm debacle
Paytm’s debacle shows that fintechs cannot function like the Wild West anymore and claim to be above rules. Even so, there are some lessons for the regulator too here.
India poised for Amrit Kaal, but investment trusts await noteworthy reforms: IndiGrid CEO on interim Budget
We had hoped that this year the budget will include, among other reforms, policy upgrades to classify investment trusts as an equity or equity-like instrument or allow us to participate in mainstream indices, but lack of any major update has left the sector disappointed.
Govt’s fiscal consolidation plan to aid private sector, boost capex revival
At a time when private capex is expected to revive, the government’s commitment to cut its expenses will bode well for the cost of borrowing of the private sector.
E-mobility gets higher allocations in Budget, but no tax sops to encourage demand
The government has re-emphasized its commitment towards e-mobility, and has clearly articulated that it will be looking at supporting the manufacturing and charging infrastructure Shruti Saboo
Markets couldn’t have asked for more from interim Budget
The budget not only allay fears of populist measures, but reaffirms the government’s focus on infrastructure development and the commitment to follow the path of fiscal consolidation
Fiscal consolidation and capex: Interim Budget strikes the right balance
The interim budget has used a positive economic backdrop to strengthen the long-term growth impulses provided by public investments, build back fiscal buffers to counter future shocks and aims to put public debt on a downward path to free up space for productive spending
The full Budget in July must flesh out the Rs 1 lakh crore lending scheme for sunrise sectors
Who will actually give these loans? What are the sunrise sectors? What kind of entrepreneurs and companies will qualify?
Paving the Green Path: India's Transformative Budget for a Sustainable Future
The commitment to rooftop solarisation, providing 300 units of free electricity monthly to 1 crore households, is a groundbreaking move. Beyond the evident cost savings for citizens, this initiative aligns seamlessly with country's efforts to reduce emission intensity and achieve net-zero emissions.
Startups will be disappointed at lack of tax sops in Budget, but steps to encourage entrepreneurs will be positive
While the start-up ecosystem will be disappointed at the lack of tax-related incentives to encourage domestic investment, they can take heart from the budget’s encouragement of entrepreneurship
No direct sops to boost demand for affordable homes in interim Budget
Development of infrastructure network, by way of roads, dedicated freight corridors, railway stations, etc will boost demand for housing in Tier 2 and 3 cities
A responsible Budget paving the road to a developed nation
Empowering the marginalized sections of society has been a focal point of this Budget. By targeting the upliftment of the poor, women, youth, and farmers, the government is addressing the roots of socio-economic disparities.
Interim Budget 2024 lays out a long-term road map
Lower government borrowing, combined with the Indian bond market’s inclusion in global bond indices will lead to strong inflows into India, generating funds to build long term infrastructure projects that boost the GDP, provide employment and keeps the INR stable
Higher infra allocation in interim Budget fails to satiate investors
The government has retained its focus on infrastructure creation but the real action for companies is after a new government is elected
Seven key takeaways from the Interim Budget 2024
What are the signals from the Interim Budget? What strategy does the government have in pruning the fiscal deficit? Why is the onus on the private sector now?
Agriculture retains government's attention in Budget despite stable allocations
The focus is on directing more institutional credit and implementation of the key government schemes
Finance Sector and Budget: A season of stark contrasts for banks and corporate bonds
Banks will struggle with slower credit growth while corporate bonds are set to become more attractive
Signalling continuity of reforms in Budget should give investors comfort
The soft assumptions on gross domestic product (GDP) growth, tax growth and revenues gives the economic numbers far more legitimacy than was expected
What Budget 2024 says about the rewiring of India
In a speech lasting less than an hour – the shortest in recent memory – the FM unambiguously showcased her government’s confidence in returning to power in the general election based on its track record and not promises of freebies. In 2019, the BJP-led NDA was on the backfoot and was forced to announce a quarterly stipend for farmers and direct tax concessions for the lower middle class
Stock markets will shift focus to global events, as the interim budget stuck to the script
Market interest in the budget has been low since it was an interim one, and it was proved right. Attention will now shift to global events such as the Fed’s interest rate cuts and geopolitics while the next domestic trigger could be elections
FM's clarion call to 'Focus on the outcome, not the outlay' and the challenge of access to capital
Private sector innovation in sunrise sectors will be greatly facilitated by allowing them greater access to grants. Private sector research requires long term patient capital. Funding models such as permanent capital vehicles have been established globally. Innovation ecosystems require such frameworks in order to be able to invest resources
Cheered by Budget, bond market now needs friendly RBI policy
A lower deficit automatically translates into a lower supply of bonds from the government. Indeed, the gross borrowing of the government is pegged at Rs 14.13 lakh crore, lower than Rs 15.43 lakh crore for FY24.
Union Budget: What’s in it for the Digital Economy & DPIs?
Focus on deep tech investments in defence and a Rs 1 lakh crore corpus for tech-savvy youngsters to fuel their startup dreams are the most prominent digital economy-related announcements. A disclosure on the progress of announcements relating to AI and DPI made in last year’s budget would have helped
No direct boost to consumption in Budget, focus shifts to inflation
Hopes that the government could put more money in the hands of low-income consumers were not realised. Demand recovery is likely to remain gradual
Banks' profits get a strong leg-up from India Budget
India’s banks are the biggest investors in the government’s bond issuance every year and they hold a little over 37 percent of outstanding government bonds
