Budget 2024: Capital Gains Tax Realignment Maybe On The Horizon, Says Maneesh Dangi

On rural development and infrastructure. Dangi said the Union government would likely to continue its strategy of lending to states, enabling them to undertake significant capital-expenditure projects. He underscored that this method was more efficient, given the states' greater capacity to spend.

Dangi highlighted the government's substantial capex push, pointing out that this would be facilitated by the windfall from the RBI and improved tax collections. He said a significant portion of this fund would be advanced as loans to the state governments to support their infrastructure projects, particularly in Andhra Pradesh and Bihar.

Roads have improved dramatically and this focus will likely continue in the coming budgets. While areas like railways and sanitation have seen investments, these still lag in quality and capacity improvements, according to Dangi. "The development of East Asia-like infrastructure is one of the significant achievements of this government."

On potential for wealth creation in the infrastructure sector, Dangi said: "The earnings in these sectors will grow due to continued investments, but making money will be challenging if valuations remain high."