Union Budget 2024: Sectors Poised for Growth Amid Economic Revival
India's Union Budget 2024 is expected to boost consumption-driven sectors, including consumer goods, real estate, and automobiles, with increased allocations and incentives.
Union Budget 2024Consumer GoodsReal EstateInfrastructureAutomobilesEconomic GrowthIndiaReal EstateJul 20, 2024
Industry experts believe that sectors like consumer goods, real estate, housing finance, infrastructure, and automobiles are likely to benefit from the budget. Brokers expect the government to allocate more funds to rural schemes, boosting consumption and benefiting companies such as Hindustan Unilever, TVS Motor, and Hero MotoCorp.
The government's production-linked incentive schemes, designed to stimulate local manufacturing and job creation, are expected to continue, benefiting companies like Dixon Technologies, Ideaforge Technology, and Biocon. Capital goods firms like Larsen & Toubro may also profit from increased capital expenditure.
In the real estate sector, an increase in allocations for affordable housing could favour developers like Macrotech Developers and Sunteck Realty. Aavas Financiers and Home First Finance may also benefit from an interest subsidy scheme for urban housing.
Electric vehicle (EV) manufacturers, including Tata Motors, Ola Electric, Olectra Greentech, and JBM Auto, are expected to benefit from the continuation of EV subsidies. However, if EV subsidies are lower than expected, Maruti Suzuki, which has focused on hybrid vehicles, may gain an advantage.
On the taxation front, analysts are cautious about potential changes to capital gains tax, which could impact equity markets and brokerages like Motilal Oswal, ICICI Securities, Angel One, and 5 Paisa.
The mutual fund association has advocated exempting mutual fund units from long-term capital gains tax, while regulators aim to curb derivatives trading, citing its speculative nature.
The Union Budget 2024 is crucial for India's economic revival, and sectors like consumer goods, real estate, and automobiles are poised for growth with increased allocations and incentives.
Frequently Asked Questions
When is the Union Budget 2024 expected to be presented?
The Union Budget 2024 is expected to be presented by Finance Minister Nirmala Sitharaman on July 23.
Which sectors are likely to benefit from the Union Budget 2024?
Sectors like consumer goods, real estate, housing finance, infrastructure, and automobiles are expected to benefit from the budget.
What is the expected impact of the budget on the automotive sector?
The automotive sector, including electric vehicle manufacturers, is expected to benefit from the continuation of EV subsidies and increased allocations for infrastructure development.
How may the budget impact the real estate sector?
The real estate sector may benefit from increased allocations for affordable housing and an interest subsidy scheme for urban housing.
What are the expectations from the budget in terms of taxation?
Analysts are cautious about potential changes to capital gains tax, which could impact equity markets and brokerages.
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