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Below the Quote on Union budget 24-25 by Mr. Gurpreet Sidana, CEO- Religare Broking Ltd

Budget 2024: Fiscal Prudence Meets Growth Ambition

The Finance Minister's 2024-2025 budget strikes a careful balance between fostering economic growth and ensuring fiscal prudence. The budget emphasizes support for MSMEs, youth employment & skilling, and relief for the middle class, while maintaining a strong commitment to infrastructure development. Tax reforms and financial sector improvements are also central, aiming to streamline the economic framework and boost overall economic performance. Although the initial market response to changes in securities transaction tax (STT) on futures and options, along with adjustments in short-term and long-term capital gains taxes, was mixed, the market has since shown resilience. Investors are demonstrating confidence in the long-term outlook, using the budget as an opportunity to accumulate quality stocks. This optimism reflects a broader belief in the budget’s potential to drive sustainable market growth and economic stability.

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