1/ Here’s all you need to know about the #Budget2023: Finance Minister Nirmala Sitharaman’s final Budget before General Elections 2024
A thread 🧵 #BudgetSession2023
2/ Economy
FM Sitharam lowered the fiscal deficit target to 5.9% in FY25 (vs 6.4% currently). This is positive for the Indian economy as it would strengthen the Govt’s finances and increase private sector investment.
3/ Capex
FM raised capital investment outlay by 33% to Rs 10 lakh cr in FY24, representing 3.3% of the GDP. This is positive for a host of sectors like capital goods, engineering, cement, and metal.
4/ Taxation
The GOI provided some much-needed relief to the taxpayers. Lower taxes can boost the economy by giving people and businesses more money to spend, leading to more demand and growth.
This is positive for consumption stocks - #HUL, #Dabur, #Britannia
5/ They increased the rebate limit from Rs 5 lakh to Rs 7 lakh UNDER THE NEW TAX REGIME.
They also simplified the tax structure by reducing the tax slabs to 5 and increased the tax-free limit to Rs 3 lakh.
6/ Taxes on cigarettes increased by 16, but this was lower than expected. Experts believe this would result in a max 2% increase in prices. Positive - #ITC, #GodfreyPhillips, #VSTIndustries
7/ Insurance stocks were beaten down badly after the GOI withdrew any tax incentives for insurance investments in the budget announcement. Negative - #HDFCLife, #ICICIPrudential, #SBILife, #MaxFinancialServices
8/ Travel & Hospitality saw a special focus in this year’s budget. The GOI announced dedicated schemes like Swadesh Darshan and Dekho Apna Desh to boost the domestic travel sector.
9/ 50 tourist destinations will be identified and developed as a whole package for domestic and international tourism. 50 additional airports, helipads, water aero drones, and advanced landing grounds will be revived to improve regional air connectivity. Positive - Hotel stocks
10/ Budget provides for Rs. 35,000 crore for priority capital investment towards energy transition and net zero objective. Govt targeting 5 MT of Green Hydrogen production by 2030. Positive - #RIL, #JSWEnergy, #NTPC.
11/ Indirect tax proposals to boost green mobility and EVs. Customs duty exemption extended to import of capital goods and machinery required for the manufacture of lithium-ion cells for batteries used in electric vehicles. Positive - #TataMotors, #TVSMotors, #SonaBLW, #ExideInd
12/ Find out which stocks are trending after the Budget announcement on the Stocktwits app. Here’s the link: stocktwits.onelink.me/Lo6t/qyarh488.
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