Finance Minister Nirmala Sithraman will release an interim budget on 1 February 2024 for the upcoming financial year. Every year, the government focuses on several aspects of the country’s growth. This year will also cover certain developmental aspects in the budget. According to the sources, the budget 2024 will focus on Infrastructure, manufacturing, energy, and healthcare sectors for the upcoming financial year. India is growing continuously towards becoming a highly developed economy. This year will have a lot of surprises adding up to the country’s growth discussed below. Also, let’s discuss the Industries that would be In focus in the Budget 2024.
Budget 2024 has been on the pedestal of expectations from different sectors. However, energy, manufacturing, infrastructure, healthcare, and technology will be the primary focus for the current year. Several other policies for the benefit of women, poor population, youth, farmers, and tribals expect to come into focus. It is a pre-election budget, so things are yet to be finalised. The election preparation is also going on at the moment. BJP and Congress have a bigger chunk of people’s support and winning chances. BJP has strong support from the mid-India. While Congress is also building its strong presence towards the south.
As the current budget will prioritize youth welfare, several education and skill development approaches will come forward. The aspirations and dreams of the youth will get a strong foundation. It will include around Rs. 1.12 lakh crore spent on Youth empowerment. PM Modi also focuses on the women’s development and standard of living in the country. The government will launch new schemes considering the benefits for women.
The shares in the above sectors are also expected to have a good return. If we talk about the share market, the current year saw a boom in the IPOs, making more companies listed publicly. The upcoming year expects to continue at a similar pace as well. Budget 2024 will have a growth of the following stocks.
As the infrastructure is the primary aspect of the budget, shares like IRFC, IRCTC, RVNL, and IRCON can have good growth. Railway stocks will remain on the uptrend as it is one of the primary sources of transportation during construction. Companies focussing on building and real estate also expect the same growth. Recently, Atal Setu construction led to a good hike in the stocks of the companies involved in its construction. We hope you get enough information about the Budget 2024 primary focus elements above.