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Below Interim Budget Quote by Sonam Srivastava, smallcase Manager, Founder - Wright Research

Budget 2024 brought forth several key announcements aimed at bolstering infrastructure, healthcare, and housing, alongside initiatives to support MSMEs and promote technological advancements in defense. Notably, the commitment to affordable housing through the launch of a new scheme for the middle class and the emphasis on next-generation reforms underscore the government's focus on sustainable development and economic inclusivity. The budget's approach to maintaining stability in tax rates while enhancing the ease of doing business reflects a strategic balance between fostering growth and ensuring fiscal prudence.

The market's reaction to these announcements has been mixed, with positive movements in the FMCG sector, attributed to measures expected to boost consumer spending power. Conversely, railway stocks saw a decline, possibly due to concerns over the execution and immediate impact of the infrastructure projects announced. Overall, the muted market response underscores a cautious optimism, with investors looking for more clarity on the implementation of budget proposals.

Looking ahead, the effectiveness of Budget 2024 will largely hinge on the government's ability to execute its outlined plans efficiently. The focus will be on translating policy announcements into tangible outcomes that stimulate economic growth, enhance sectoral performance, and bolster investor confidence in the Indian market's long-term potential.

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