Quote on Budget 2024 by Vikas Khemani, Founder, Carnelian Asset Management & Advisors
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Below the quote on budget reaction by Vikas Khemani, Founder, Carnelian Asset Management & Advisors
"The overall budget appears balanced, with the new coalition government clearly focusing on agriculture, manufacturing, employment generation, youth skilling, MSME support, and urban infrastructure development. This budget sets priorities for a "Viksit Bharat." Initiatives like the credit guarantee scheme for MSMEs and Mudra Loans are positive steps for MSME growth. In terms of tax reforms, the increase in LTCG by 2.5% and STCG by 5% could have been avoided but it is not expected to significantly impact market sentiment. The budget maintains good fiscal discipline and yet focusses on channelising resources to the desired sections. We remain confident in investing in India and believe in the vision of Viksit Bharat 2047. Many sectors like manufacturing, agriculture, infrastructure and consumption will benefit from this budget."
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