5 Sectors that can be affected from Budget 2024

 

BUDGET 2024

With the union budget 2024 just around the corner, anticipation is brewing amongst investors and businesses alike. This annual financial statement outlines the government's spending plans and revenue targets, impacting various sectors yearly.

Which sectors should you be keeping an eye on in budget 2024?

Infrastructure? capital and engineers good?

Budget 2024 - 5 sectors to watch

1. Infrastructure

Infrastructure development has been a continuous focus area for the government. Experts expect continued budgetary allocations for key areas like roads, railways, and airports.

2. Capital goods & Engineering

With an increased focus on infrastructure, the demand for capital goods and engineering services is likely to rise. This could benefit companies that manufacture: Construction Equipment and Industrial Machinery.

3. Public Sector Undertakings (PSUs)

The government might prioritize strategic disinvestment in some PSUs while strengthening others in critical sectors. This could lead to Increased Investment in core PSUs.

4. Defense & Security

India's Focus on national security might translate to increased Allocation for defense spending. Higher budgetary allocation for defense equipment, modernization, and Indigenous weapon development is expected. This could benefit defense companies and related sectors.

5. Green Shoots in other sectors

Besides these key areas, the Budget 2024 might also offer positive developments for: Renewable energy, affordable housing, and agriculture & Rural Development.

By keeping an eye on these potential growth sectors, investors can make informed decision. Remember, the budget is just the one factor influencing markets.