New Delhi, July 21 (IANS) The Union Finance Minister Nirmala Sitharaman will present the Union Budget on July 23. Stock market experts believe that the budget may focus on four sectors – capital goods, defense, electronics system design and tourism.
Market experts believe that the incentives introduced last year may continue this time as well. The government's focus may be on infrastructure (roads, railways, ports, airports, defense and tourism).
The stock market is on a rise before the budget. Nifty has given a return of 0.3 percent last week. Shares of big companies like TCS, Infosys and HCL Tech have seen a rise.
Krishna Appala of CapitalMind Research said that the Government of India has planned an investment of Rs 4.75 lakh crore to upgrade the country's power transmission and a target of 628 gigawatts of capacity has been set by 2028. Along with this, plans have been made for metro in more than 40 cities. At the same time, a plan has been made to invest Rs 1.5 lakh crore in the oil and gas sector.
Further said that the defence budget has been increased to Rs 6.2 lakh crore. A target has been set to achieve 70 percent self-sufficiency in this sector by 2025 with a turnover of Rs 1.75 lakh crore.
In electronics, the government is giving incentives worth Rs 76,000 crore to increase domestic production. It is expected that this will increase the electronic system design market from $25 billion to $100 billion in the next 5 to 7 years.
Market experts say the tourism market is expected to grow to $31 billion by 2029, up from $24.6 billion in 2024.
Appala said that at present the market is not expecting any negative decision on income tax, LTCG, STCG and STT.
–IANS
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