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24-07-2024 10:38 AM | Source: PR Agency

Quote on Budget Reactions by Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

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Below the Quote on Budget Reactions by Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

The budget’s primary focus seems to be on employment and job creation which reflects in (a) Employment Linked Incentives which will benefit 82 lac people across 3 initiatives (b) Skilling related financial support for Skilling Loan of upto Rs. 7.5 lacs and subvention of 3% interest for education loans (c) Top 500 companies can provide 1 year internships where government will support almost 90% of compensation and even 10% can be funded through companies’ CSR obligation this means additional man power resources will be available without significant cost burden.

Infrastructure:

- Before the budget, there was high expectations that government will increase infrastructure allocation from interim budget announced amount of Rs.11.1 lac cr to higher value given exceptional dividend received from RBI and robust tax collection but against that government has kept the allocation same which is 11% growth over FY24 allocation and in line with nominal GDP growth rate. One of the reason could be extra allocation to infrastructure may result into continued higher than expected inflation which will reduce RBI’s ability to reduce interest rates. The announcement in today’s budget is more focused on DBT (Direct Benefit Transfer) to beneficiaries rather than spending to increase velocity of demand.

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Quote on Budget Reactions by Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

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