Bank Nifty often reacts negatively or with muted gains on Budget Day
Changes aim to ease compliance, reduce litigation, and simplify deductions under the Income Tax Act
At present, this interest is treated like regular taxable income
Check the full text of Nirmala Sitharaman's speech for Union Budget 2025
Shipping stocks fell up to 3 percent as the Budget 2024 lacked significant sector-specific announcements, although reforms in ownership, leasing, and flagging were mentioned to boost the Indian shipping industry.
Realty stocks gain after FM Sitharaman announced Rs 11 lakh crore capex outlay and Rs 10 lakh crore allocation for rental housing.
Ahead of the budget announcement, the sole index winners were Nifty Realty and Nifty FMCG.
Union Budget 2024 Live | FM Nirmala Sitharaman’s Full Budget Speech | Budget Session In Parliament
Even though the Union Budget stepped away from lining up populist measures in the election year, it did provide some stock-specific measures that brought cheer to pockets within the market
Budget 2024 Highlights: Ministry of Defence has received a robust budget of Rs 6,500 crore for Border Roads Organisation in the financial year 2024-25, marking a 30% increase from the previous fiscal year, the Defence Ministry said. DRDO's Budget saw a boost to Rs 23,855 crore and the Indian Coast Guard’s budgetary allocation increased this year by 6.31 percent to Rs 7,651 crore.
Budget 2024: Finance Minister Nirmala Sitharaman has explicitly ruled out any 'spectacular announcement' for her upcoming sixth budget, clarifying that the budget, scheduled to be presented on February 1, will be a vote-on-account ahead of the general elections.