Interim Budget 2024-25 - Analysis And Key Highlights: SBI Research

SBI Research Report

The Interim Budget 2024-25 presented by the Union Finance Minister Smt Nirmala Sitharaman hits all the right notes in its brief printed sojourn, scoring high on a slew of tangible commitments while weaving an actionable and time bound roadmap, with firm milestones taking forward the colossal works spanning policy reforms, infrastructure, knowledge economy, welfare measures that transcend the barriers towards Viksit Bharat.

Interestingly, India will hit $4 trillion in FY25 and at this rate, India is well on its course to touch $5 trillion in FY28 / 2027.

Nearly three hundred years after the word budget was first used in its present sense, the policy document unveiled today (when India has carved a special place on the global stage as the fastest growing large economy, discounting the volatile global environment), firmly steps away from crowd pleasing antics towards envisioning a developed India in its Amrit Kaal period, by enabling each and every Indian to align with the ambitious, yet achievable goal through action oriented collaborative works in unison.

Key highlights-

• The budget statement is broadly in line with the long-term vision of the Government laying the basis for a regular budget that is likely to come up during July 2024. Given the current nature of budget, no major announcements directly benefitting the corporates were made. However, sectors such as steel, cement, constructions, food processing, eairy, FMCG, EV and housing appear to benefit from the announced measures.

• BSE Sensex opened at 71998 in the morning touching a high of 72152 and closed at 71645 broadly depicting the swaying sentiment during budget being announced.

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