2025-02-03 04:49:12 pm | Source: Alchemy Capital Management
Quote on Market by Hiren Ved, Director & CIO, Alchemy Capital Management
Below the Quote on Market by Hiren Ved, Director & CIO, Alchemy Capital Management
"Most budgets are usually a balancing act; however, this one is an excellently balanced one. A big push to consumption comes through income tax cuts. This should give some momentum to flagging consumption. On the capex front, based on actual numbers, there is decent growth. There is also a significant focus on boosting “Make in India” across electronic goods, EV batteries, solar, with new thrust areas in nuclear, shipbuilding and labour-intensive sectors. There is an emphasis on the ease of doing business across sectors, by simplifying procedures, removing irrelevant laws, and decriminalising several technical offences.
By keeping the fiscal deficit at 4.4% of GDP, the stage has been set for rate cuts and infusing more liquidity, which would further help in boosting consumption. No change with capital gains is a big relief. Net-net, the budget seems positive for our markets. In the near-term, consumption oriented sectors (retail, real estate, tourism and autos) and rate sensitive sectors may see momentum, along with EMS, power and defence in the medium term as capex spending and orders accelerate over the next few months."
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