Which Share to Buy Before Budget 2024?

New Budget for 2024

• Presented by Finance Minister Nirmala Sitharaman
• Focus areas: infrastructure, manufacturing, green energy, and technology
• Emphasizes increased capital expenditure
• Significant investments expected to drive economic growth and development

Which Share to Buy Before Budget 2024?

• Sectors poised for growth due to budgetary allocations:
  • Infrastructure
  • Green energy
  • Technology
• Key companies:
  • Renewable energy projects (solar and wind energy)
  • Infrastructure development (construction and transportation)
  • Technology firms (artificial intelligence and innovation)

What is the Budget Request for 2024?

• Prioritizes infrastructure development, green energy projects, and technological advancements
• Government aims to increase capital expenditure by 30%
• Focus on expanding infrastructure and promoting sustainable energy solutions
• Push towards enhancing public-private partnerships
• Streamlining regulatory frameworks to support economic growth

What is the Date of the Budget?

• Presented on July 22, 2024
• By Finance Minister Nirmala Sitharaman
• Sets the foundation for India's economic policies and growth trajectory for the upcoming fiscal year

Economic Survey 2024 Highlights: Key Takeaways

Strengths and Growth Projections

• Prime Minister Narendra Modi emphasized the strengths of the Indian economy
• Reforms implemented by the government
• Projected real GDP growth: 6.5-7% for FY25
• Risks evenly balanced
• Higher nominal growth rate expected to reduce the public debt to GDP ratio

Energy Transition and Financing Challenges

• Highlighted by Chief Economic Adviser (CEA)
• Simultaneous energy transitions pose significant financing challenges
• Need for substantial investments in clean energy and infrastructure

Public Debt and Inflation

• Consumer Price Index (CPI) inflation projection by RBI:
  • 4.5% for the current year
  • 4.1% for the next year
• Need for a simplified regulatory framework for MSMEs to foster growth and formalization

Infrastructure and Capital Expenditure

• Substantial increase in capital expenditure on Indian Railways (77% rise over the past five years)
• Improvements in logistics efficiency and infrastructure development
• Emphasis on public-private partnerships and regular monitoring of infrastructure projects

Dependence on Critical Minerals and Trade Imbalances

• India's dependence on China for critical minerals
• Need to address this challenge
• Implications of phasing down coal on bank balance sheets
• Importance of balancing imports and domestic production to reduce trade imbalances

AI and Job Creation

• Artificial Intelligence (AI) as a significant driver of job creation
• Focus on high-skilled sectors
• Need for IT and non-IT sectors to balance technology deployment with labor for sustainable growth and employment opportunities

Summary :

The 2024 Union Budget and Economic Survey provide a comprehensive overview of India's economic landscape and future growth prospects. With a strong focus on infrastructure, green energy, and technological advancements, the government aims to steer the economy towards sustainable and inclusive growth. Investors and stakeholders are advised to closely monitor developments in these key sectors to capitalize on emerging opportunities.