Anticipated Budget 2024: Wishlist Highlights for Housing, IT, Auto, FMCG, Agriculture, and More Sectors

Budget 2024 Expectations Highlights: Housing, IT, Auto, FMCG, agriculture and other sectors share Wishlist.

Budget 2024 Expectations Highlights: With the Union Budget 2024 just around the corner, all eyes are on the Finance Minister's ‘bahi khata’ to see what it holds for various sectors crucial to India's growth and development.

Budget 2024 Expectations Highlights:

As anticipation builds for the upcoming Budget 2024 in India, a diverse array of sectors eagerly await FM Nirmala Sitharaman's announcements and fiscal policies that will shape their respective landscapes. From agriculture, infrastructure, and healthcare to education, finance, and manufacturing, each sector carries its own set of expectations for allocations and reforms. The fiscal agenda, these sectors collectively voice their aspirations for a budget that fosters growth, innovation, and societal well-being.

• Budget 2024 Expectations Live: What is disinvestment?

  Disinvestment: Disinvestment is the sale of stakes in public sector companies by the government to the private players. The government divests its stake in the public sector entities and assets to generate revenue. In the Union Budget, every year the government announces the divestment target.

  
  

• Budget 2024 Expectations Live: What is fiscal deficit?

  Fiscal Deficit:To put it simply, the gap between the government’s revenue and its expenditures is known as the fiscal deficit. The fiscal deficit arises when the government expenditure exceeds the total receipts in a financial year. The fiscal deficit is an indicator of the amount of money the government may need to borrow to meet the spendings for the given financial year.

  
  

• Budget 2024 Expectations Live: What will the women look for?

  - One does not have much to say here but one hopes that we move beyond giving welfare programmes for women. In the past year, we have seen violence against women in Manipur, harassment against women wrestlers, and the shocking developments in the Bilkis Bano case before she received justice.

  - Each of these cases, especially the Bilkis Bano case, pose several questions on the well-being of women, morality and humanity. We have women in important political positions including the President and Finance Minister herself, but they have not taken any strong stand against violence and misbehaviour towards women. The welfare programmes mean nothing if we do not believe in the welfare of women.

  
  

• Budget 2024 Expectations Live: What the fintech sector wishes for this budget.

  - In a recently-released report, BankBazaar.com puts forth a list of asks that the fintech sector has from the government. Not all these demands may fall within the purview of the budget but they can be viewed as an all-encompassing list of what the fintech sector wishes for in 2024.

  - Inclusion of additional documents in DigiLocker –The BankBazaar.com report suggests that more documents such as the EPFO passbook, ePAN, and form 26 AS (statement showing tax credit) be included in DigiLocker. This will ensure that customers have convenient access to their documents and are able to share them with financial institutions for quick disbursal of credit.

  - Level-playing field between digital and offline lenders –Triggered by the predatory practices of illegal digital lending apps, the RBI issued its digital lending guidelines in September 2022.

  - Parity in taxation of listed & unlisted equities –Listed and unlisted equity are taxed differently. Capital gains (in excess of Rs 1 lakh per year) from sale of listedequityshares held for more than 12 months are treated as long-term in nature and are taxed at a flat 10 percent.

  
  

• Budget 2024 Expectations Live: More urban jobs, rationalizing GST, boosting housing demand: A look at CII's wishlist.

  - Capex Momentum: One of the important factors behind India's continuing economic growth has been the government's focus on increased spending on roads, airports, railway tracks, and bridges. The CII wishes that this focus is not lost. It recommended an increase in capex by at least 20 percent to Rs 12 lakh crore.
  -Fiscal Consolidation: Finance Minister Nirmala Sitharaman should focus on balancing fiscal consolidation and economic growth, the CII wishlist states, adding that the fiscal deficit target should be cut down to around 5.4 percent of gross domestic product (GDP) for the next financial year.
  -Rationalising GST: CII pointed towards streamlining the GST structure by pruning the tax to a three-rate structure, with a standard rate for most goods, a low rate for essential goods, and a high rate for luxury and demerit goods.

• Budget 2024 Expectations Live: What is capital expenditure?

  Capital Expenditure: Capital Expenditure, or Capex, is the government’s expenditure on various infrastructure projects, upgradation of physical assets, and the purchase of new equipment. It also covers the costs incurred by the government to purchase fixed assets like land and investments that will yield earnings or dividends in the future.

  
  

• Budget 2024 Expectations Live: Allocation to fertiliser subsidy to dip lower than Rs 1.75 lakh CR

  - The Union Budget is likely to look at an allocation lower than Rs 1.75 lakh crore for fertilizer subsidy in 2024-25 owing to a drop in international prices, government push towards schemes for the use of bio and organic fertilizers and increased use of nano urea, a government official said.

  - In the current fiscal year (2023-24), the fertilizer subsidy is likely to touch Rs 1.88 lakh crore.

  - The earlier expectation was that fertilizer subsidy would be high for FY25 as well but international prices have come down. The earlier calculation is now redundant and next year, the fertilizer subsidy allocation will be less than Rs 1.75 lakh crore.

  Budget 2024 Expectations Live: What will the farmers look for?

• - The government had come up with a policy of doubling farmer’s income. A Committee was instituted which submitted a 14-volume report to achieve the target. The government implemented various policies, reforms, and programs. The data also showed that the average monthly income per agricultural household increased by 59 percent from Rs 6,426 in 2012-13 and Rs 10,218 in 2018-19. We have to see whether the farmer's income can double and how much time it takes to double. The FM could consider providing an update on the recent numbers and also lay a path for further reform in agriculture.

  
  

• Budget 2024 Expectations LIVE: Customs duty inversions on key items may be corrected in Make in India push.

  - India’s Make in India push may continue in the upcoming interim Budget as the central government is likely to majorly address the issue of inversions in custom duties imposed on various products ranging from textiles to engineering goods, sources told Moneycontrol.

  - The Ministry of Commerce has sent a list of items to the finance ministry to correct the inverted structure in the customs duty levied on certain items, one of the government officials said.

  - An inverted duty structure occurs when import duty on finished goods is lower compared to what is levied on the raw materials that are used in the production of those finished goods.

  
  

• Budget 2024 Expectations Live: Govt likely to announce Metro’s new corridor to connect Haryana and UP via Delhi.​

  - The Union Budget to be presented on February 1 is likely to announce Delhi Metro's new corridor to connect Haryana and Uttar Pradesh via Delhi at an estimated project cost of Rs 7,500 crore, a government official said.

  - “Delhi Metro’s phase IV will have six corridors. The last 6th corridor remains to be approved. The sixth corridor will extend the red line from Rithala (in Delhi) to Kundli in Haryana. The detailed project report(DPR) has been submitted. The approval is in the final stages.

  - The announcement may be made in the Union Budget.

  - Delhi Metro Phase IV has six corridors. In March 2019, the Union Cabinet approved three corridors of the Delhi Metro's Phase-IV which are now fully operational. The fourth and fifth corridors of phase IV have been approved and are under construction. The last sixth corridor is pending approval, which is likely to be announced in the upcoming Union Budget.

  
  

• Budget 2024 Expectations Live: What is direct and indirect tax?

  Direct Tax: These include corporate tax and income tax that are levied directly on the taxpayers. Direct taxes constitute a major part of the government revenue.

  Indirect Tax: These taxes are levied on the consumption of goods and services. The Goods and Services Tax (GST) constitutes a major part of the revenue from indirect taxes for the Union government. The other indirect taxes are customs duty, excise duty, and VAT.

  
  

• Budget 2024 Expectations Live: Auto industry seeks policy consistency, focus on EV

  - The industry believes that focus on last-mile connectivity, infrastructure, and policy consistency would propel sectoral expansion.

  - The Society of Indian Automobile Manufacturers (SIAM) believes that though sector-specific announcements are unlikely to be made, it is hoping that there is no “drastic change” in the existing policies, which can disrupt the ecosystem.

  - The government is doing an extremely good job with the allocation of capital expenditure and infrastructure investments, which were very high during the last fiscal. We are glad that the execution of those projects is going very well. Therefore, our expectation from this budget is that such initiatives should continue,” Vinod Aggarwal, President, of SIAM.

  
  

• Budget 2024 Expectations Live: What is inflation?

  Inflation: A sustained rise in the average level of prices within an economy is referred to as inflation. It also refers to a currency’s gradual decline of purchasing power over time. To put it more simply, there are certain products and services that you can purchase with say an amount of Rs 5,000 today. After 5 years, this same amount will, however, yield fewer goods and services.

  
  

• Budget 2024 Expectations Live: What will the poor look for?                                      

  - The Niti Aayog recently released the multidimensional poverty index which shows poverty ratio has declined from 25 percent in 2015-16 to 15 percent in 2019-20 and nearly 13.5 crore people escaped poverty in the period. While the data suggests poverty has declined, the government has continued to provide free grains to 81 crore people for the next five years.

  - While the Budget is not on the poverty estimates, the FM’s speech could provide some clarity on the poverty debate. After all, a clearer picture ofof poverty trends will also help governments in future target programs. Her speech could also (hopefully) lead the Government to release the much-awaited Consumption Expenditure Survey which also helps in computing the Consumer Price Index whose base year has remained unchanged since 2011-12.

  
  

• Budget 2024 Expectations Live: If not direct tax rate cuts, then at least ease of compliance.                                      

  - Expectations on ease of compliance are always on the rise, especially since tax authorities have used technology to simplify tax return filing and related processes. Because of the same, the budget could bring in a few changes to the procedural aspects to improve ease of compliance, such as e-verification through foreign mobile numbers, tax payment without Indian bank accounts, tax refunds to overseas bank accounts, simplification of TDS procedures while buying immovable property from an NRI seller, additional information in the Annual Information Summary (AIS), and so on.

  - Indian cities have witnessed a spurt in their growth rates in the past, attracting many investors to set up offices in cities such as Pune, Bengaluru, and Hyderabad. While the regular tax regime is still available, these cities could be included as metropolitan cities, which would boost tax savings to those taxpayers claiming House Rent Allowance (HRA) by allowing 50 percent of their basic salary for rent payment in these cities.
  
  - Individual tax payments look forward to better tax savings in terms of lower tax rates and higher income slabs. In the past, the simplified (new) tax regime has seen lower rates and wider income slabs than the regular (old) tax regime. However, one has to bear in mind that the budget to be presented on February 1 is an Interim Budget. If the Finance Minister’s speech at the CII Global Economic Policy Forum 2023 Summit is any indication, the expectations on changes to tax rates would need to be tempered.

  
  

• Budget 2024 Expectations Live: Amid global headwinds, there is no room for irrational expectations.                                      

  - Against the backdrop of volatile stock markets and general elections, the upcoming Interim Budget 2024 is highly significant.
  - The geopolitical uncertainties due to war, energy price volatility with Brent oil rising to $78.51 per barrel, risks in the Red Sea and using the longer trade route via Cape of Good Hope and associated delays in consignments, uncertainties in US Fed Reserve announcements in February are the major factors that have led to the present macroeconomic uncertainties and stock market volatility.
  - The crucial question therefore is how to boost the investor's confidence and how to woo the calculus of consent of voters in the 2024 general elections. This twin task is beyond the purview of just an Interim Budget 2024.
  -  The fear of less job opportunities, the risks of new digital financial infrastructure, and the existential climate crisis are real, and India contributed to these discussions relating to a multilateral regulatory framework in Davos, at the World Economic Forum this past week. 
  
  

• Budget 2024 Expectations Live: Hopes for green energy push, railway capex, GST rationalization continue, says RPG Chairman Harsh Goenka.                                  

  - Election year is always a challenge for the FM, needing to balance key economic priorities with the expectation of the electorate, matters that seldom converge. There are a few areas where policy and tax laws can be rationalized to spur growth and competitiveness.
  - Green energy will need to be emphasized and promoted through policy so that the momentum is sustained. We have made a promising start with solar and wind, both of which still need to attain greater viability prospects.
  - Customs duty and GST reduction on solar cells and components need a relook.  The introduction of the Green Hydrogen Purchase Obligation for identified industries and reduction in the GST rate for electrolyzer manufacturing, along with fiscal incentives aimed at ramping up Green Hydrogen production will give a thrust to this important energy option.
  
  

• Budget 2024 Expectations Live: What is GDP?

  Gross Domestic Product (GDP): The total market value of all finished products and services produced in a country within a financial year indicates the Gross Domestic Product (GDP). It’s the benchmark used in most countries to assess economic conditions.  The GDP number is a key indication of the economic condition of the country.

   
  
  

• Budget 2024 Expectations Live: What are revised estimates?

  Revised Estimates: Compared to Budget estimates, some ministries or departments may require more money than expected as the financial year progresses. This needs a modification to the allocations announced in the Union Budget. This is called revised estimates, where the government reviews and modifies the allocations as needed.

  
  

• Budget 2024 Expectations Live: Schools anticipate resource-backing amid NEP overhaul.

  - Schools have a long list of expectations from the interim budget, ranging from the establishment of a subject matter expert (SME) committee for teachers to specific resource allocation for cultural change in institutions.

  - The February 1 budget is an interim one before the general elections are held in May. Finance Minister Nirmala Sitharaman has indicated that there will be “no spectacular announcements” in the interim budget, but some tweaks cannot be ruled out.

  - The allocation for the Department of School Education and Literacy was increased to Rs 68,804 crore in FY24 from Rs 59,052 crore (revised) in FY23. However, school administrators said the Union government must focus on quality control in light of sweeping changes proposed in the National Education Policy (NEP) 2020.

  
  

• Union Budget 2024​ Expectations Live: What are budget estimates?

  Budget Estimates: While presenting the Union Budget, the government allocates funds for various projects, welfare schemes, ministries and department. The allocations listed here are budget estimates. They are not the government’s final commitment, they are called estimates. They indicate the maximum amount of money the government will spend on the specified project, ministry, department or the scheme. Later, the government presents revised estimates detailing out the money allocated for a particular scheme, department or ministry.

  
  

• Union Budget 2024​ Expectations Live: Gender budgeting in energy schemes is a sure path to equitable, women-led development.                   

  - The Union Budget is one of the most closely tracked events that aims to promote social justice and equality while encouraging quick and balanced economic growth in the country. Over the past few years, the government has been pushing for higher fund allocations towards schemes that empower women. As a woman in business, I expect Finance Minister Nirmala Sitharaman to push the pedal for accelerating inclusive development.

  - The 18th G20 Summit, under the Indian Presidency, showcased India’s dedication towards championing gender equality, as was evident in the New Delhi Leaders Declaration 2023. With its single-minded focus on enhancing economic and social empowerment, bridging the gender digital divide, driving gender-inclusive climate action, and securing women’s food security, nutrition, and well-being, India showed the way for prioritizing gender inclusivity. Topping this has been the historic Women's Reservation Bill 2023, which was passed in Parliament with a thumping majority.

  
  

• Budget 2024 Expectations Live: Govt may keep 2024/25 gross borrowings close to current level.                                                    

  - The Government of India may keep its gross market borrowing for 2024/25 close to this fiscal year's level as it looks to rein in its borrowings that have more than doubled, mainly due to pandemic spending, two government sources cited by Reuters said.

  - India may peg its gross market borrowing for next fiscal year at between Rs 15 trillion ($180.47 billion) and Rs 15.5 trillion, when Finance Minister Nirmala Sitharaman presents the interim Budget on February 1, the two officials aware of the development said.

  - This is close to its Rs 15.43 trillion target for the current fiscal year that ends on March 31.

  
  

• Budget 2024 Expectations Live: Defence stock valuations are stretched but may rally if budget allocation is stepped up.                  
  - While the growth story around defence continues to be strong, analysts maintain that there is unlikely to be any significant change in allocation in the upcoming budget. However, they believe that any increase in allocation will be a positive surprise on this front and that markets will cheer.

  - In the FY23–24 budget, the defence segment received an allocation of Rs 5.94 lakh crore, a 13 percent increase over the previous year’s Rs 5.25 lakh crore. Of this, the capital outlay for “modernization and infrastructure development” was increased to Rs 1.62 lakh crore, 6 percent higher than the FY2023 budget’s Rs 1.52 lakh crore and a 57 percent increase from FY2020.
  
  - While most analysts believe that the interim budget “is a non-event” with major changes to come in only after the elections, the overall expectations for the defence sector remain positive. “The government’s target is to become self-reliant and also make India an export hub in the long term. I believe investments would continue on the defence side as well, with increases in capex spending to be seen more in FY2025,” says Sneha Poddar, AVP Retail Research, Broking, and Distribution, MOFSL

  
  

• Budget 2024 LIVE: What is finance bill?

  Finance Bill: Each year, the government introduces the Finance Bill in the Parliament to implement the Budget proposals. The Finance Bill lays out the government’s fiscal strategies. The Finance Bill contains the details on taxation, revenue, expenditure, and borrowings, for the upcoming financial year. The Finance Bill provides the legislative backing to the tax proposals of the government. Any proposal on modification to the existing tax rates or introduction of any new tax is contained in the Finance Bill.

  
  

• Budget 2024 Expectations Live: Rising inflation, lay-offs top concerns for citizens, says Kantar survey.

  - Inflation and layoffs across sectors are the two major issues that are worrying Indians and they expect some security from the Union government ahead of the 2024 Budget, according to a survey.
  - Erratic monsoons, climate change that could impact the agriculture yield is also seen as another important concern area, as it’s a direct contributor to inflation, according to the survey by Kantar, a marketing data and analytics company.

  
  

• Budget 2024 Expectations Live: CARE Ratings expects a 20% rise in allocations for the roads and highways sector.

  - NHAI's focus on reducing external debt is expected to persist through asset monetization, BOT mode project awards, and increased budgetary spending. CARE Ratings expects a 20 percent YoY rise in budgetary allocations for the roads and highways sector in the Union Budget 2024-25.
  
  - Tax relief on capital gains and interest income from InvIT can enhance investor interest in invITs, unlocking asset monetization potential for the roads sector.

  
  

• Budget 2024 Expectations Live: Industry seeks tax incentives, more funds to boost manufacturing, exports.                                   

  - Indian Inc. including exporters, wants the government to provide tax incentives for research and more funds for marketing activities in the Budget to boost manufacturing and the country's outbound shipments.

  - They also urged the government to consider developing a global shipping line in partnership with the private sector.

  - The Federation of Indian Export Organisations (FIEO) urged the Centre to let the private sector engage in developing shipping lines. This will also reduce arm-twisting by foreign shipping lines, particularly of our MSMEs, the organization said. For promoting Research and Development (R&D) in the country, weighted tax deduction can be increased to 200%, it added.

  
  

• Budget 2024 Expectations Live: India’s consumption story is limited & in need of a boost.

  Currently, India’s consumption story is limited and in need of a boost. In a population of 1.4 billion, demand is mostly spread across about 100 million people, according to Aamar Deo Singh, Senior VP of research, of broking firm Angel One. He said, “Two-wheeler sales, a key indicator of mass consumption, continues to remain below the pre-pandemic peak, indicating the overall struggle in increasing consumption across the population.”

  
  

• Budget 2024 Expectations Live: The government is likely to prioritise measures aimed at boosting consumer demand and spending.

  Investors are expected to shift their focus towards consumption stocks, which are considered defensive assets, as they seek stability amidst the heightened market volatility leading up to the upcoming elections. The government is likely to prioritize measures aimed at boosting consumer demand and spending, as well as rural development, which has been lagging behind urban markets.

  
  

• Budget 2024 Expectations Live: Reform in the capital gains tax.

  Rahul Mehrotra, the Managing Director and CEO of Religare Housing Development Finance Corporation, anticipates a significant reform in the capital gains tax that would demonstrate the government's commitment to optimizing fiscal policies. 

  According to Mehrotra, the government is poised to introduce innovative projects aimed at improving efficiency and productivity in the agricultural sector, ushering in a tech-driven era. This will ensure a sustainable and technologically advanced future for the country.

  
  

• Budget 2024 Expectations Live: Drone Start-Up community waiting for revolution.

  Ankit Kumar, the CEO of Skye Air, has stated that the drone startup community is eagerly waiting for the finance minister to announce key expectations that could revolutionize the industry. The most important expectation is the call for a Production-Linked Incentive (PLI) exclusively tailored for the service sector. Such a scheme would not only attract investments but also catalyze job creation, thereby fostering a rapid integration of drones in critical domains like healthcare and agriculture.

  
  

• Budget 2024 Expectations Live: The housing sector should be given an industry status.

  To maintain this positive outlook, Dharmesh Shah, the CEO of Hero Realty suggests that the housing sector should be given an industry status, housing projects should have a single-window clearance, and the tax rebate under Section 24 of the Income Tax Act should be increased to Rs 2 lakh.

  
  

• Budget 2024 Expectations Live: Real estate industry's outlook for 2024 Positive.

  Dharmesh Shah, the CEO of Hero Realty, believes that the real estate industry's outlook for 2024 is positive. This comes after record-breaking sales of 4.77 lakh housing units were seen in the top seven cities. However, the upcoming general elections may have an impact on the demand and growth of residential real estate. 

  
  

• Budget 2024 Expectations Live: Space, and drone industries excited about the upcoming budget.

  The CEO of Arahas Technologies, Saurabh Rai, said that the Geographic Information Systems (GIS), space, and drone industries are particularly excited about the upcoming budget.  

  "Poised at the forefront of technological evolution, these sectors are integral to the country's economic growth. The forthcoming budget is viewed as a pivotal moment, offering tailored solutions to their distinct needs and setting the stage for transformative developments and sustained advancement," he said.

  
  

• Budget 2024 Expectations Live: Tourism promotion, Digital India initiative, and housing for all are expected to receive increased allocations.

  According to Akshat Khetan, the Founder of AU Corporate and Legal Advisory Services Limited (AUCL), tourism promotion, Digital India initiative, and housing for all are expected to receive increased allocations. These will be balanced with more proactive fiscal deficit control measures and targeted reforms to boost demand in the e-commerce sector. Khetan also expects certain measures to address India's increasing influence in key global conversations, leveraging trade and cultural legacy as a bulwark toward enabling a more holistic discourse in terms of both economic development and social well-being. 

  
  

• Budget 2024 Expectations Live: A budget session usually leads to an increase in market volatility.

  Sameet Chavan, who is the Head of Research for Technical and Derivatives at Angel One, mentioned that the Union Budget session usually leads to an increase in market volatility. However, as it is an interim budget without any major announcements expected, it is anticipated to be uneventful. In the previous week, there was significant profit booking, and this trend has continued into the current week. There has been a noticeable increase in short positions in the banking index on the derivatives front, and foreign institutional investors have been selling activities in index futures, which is not encouraging for bullish sentiments, according to Chavan.

  
  

• Budget 2024 Expectations Live: Customs duty rate for products not having viable import substitutes.

  Pavan Choudary, Chairman of the Medical Technology Association of India (MTaI), has expressed his expectations from the Budget. He stated that India's current tariff duty structure on medical device imports is excessively high. This high customs duty regime negatively impacts the costs of medical devices, which contradicts the government's efforts to provide low-cost healthcare to the masses through schemes like Ayushman Bharat (PMJAY). Therefore, he requested the government to reduce the customs duty rate for products that do not have any viable import substitutes.

  
  

• Budget 2024 Expectations Live: Government should focus on public capex.

  The leading industry chamber FICCI has stated that the capital expenditure outlay in the last Union Budget for 2023-24 was increased by 37.4% to Rs 10 lakh crore. Additionally, the latest GDP release has reported encouraging data on capital formation.

  FICCI has suggested that India is at a crucial turning point, and given the current global developments and associated headwinds, the government should focus on public capex (on physical, social, and digital infrastructure) in the forthcoming budget.

• Budget 2024 Expectations Live: Government needs to take measures to boost economic growth in India.

  According to the industry, the government needs to take measures to boost economic growth in India as it moves towards becoming the third-largest economy in the world. The Confederation of Indian Industry (CII) has suggested the launch of a 'National Mission for Advanced Manufacturing' to improve the quality and productivity of the manufacturing sector. The mission aims to strengthen the ecosystem for building a technologically advanced manufacturing industry and accelerate the adoption of transformative technologies in the manufacturing sector.

  
  

• Budget 2024 Expectations Live: Women And The Energy Sector.

  Vaishali Nigam Sinha says as we eagerly wait for this year's budget, let us imagine a future where women have a significant role in the energy sector, not just as beneficiaries, but as active participants and leaders who can bring innovative ideas and new perspectives. I believe that the Union Budget 2024-2025 can be a powerful tool to shape policies that promote gender inclusivity in the energy domain, strategically allocate resources to women-specific education and skill-building initiatives, and provide incentives for female-led business ventures. Vaishali Nigam Sinha believes that this budget is an opportunity for the government to demonstrate its commitment to achieving energy security and gender equality in India, and to make a real difference.

  
  

• Budget 2024 Expectations Live: Essential tool to help dismantle deeply entrenched gender disparities.

   

  Ramping up gender budgeting is an important and continuous commitment toward ensuring crucial budgetary decisions reflect a genuine investment in the empowerment of women and girls. It is an essential tool to help dismantle deeply entrenched gender disparities. The previous budget was promising in this regard, with the total allocation for gender budgeting marked at Rs 2.23 lakh crore, 30% higher than the budget estimates of 2021–22 spread across women and child development, rural development, education, health and family welfare, and agriculture and farmers' welfare, says Vaishali Nigam Sinha

  
  

• Budget 2024 Expectations Live: The 18th G20 Summit showcased India’s dedication to championing gender equality.

  The 18th G20 Summit, under the Indian Presidency, showcased India’s dedication towards championing gender equality, as was evident in the New Delhi Leaders Declaration 2023. With its single-minded focus on enhancing economic and social empowerment, bridging the gender digital divide, driving gender-inclusive climate action, and securing women’s food security, nutrition, and well-being, India showed the way for prioritizing gender inclusivity. Topping this has been the historic Women's Reservation Bill 2023, which was passed in Parliament with a thumping majority, says Vaishali Nigam Sinha.

  
  

• Budget 2024 Expectations Live: Gender budgeting in energy schemes is a sure path to equitable, women-led development.

  The Union Budget is a significant event that is closely monitored. Its objective is to promote social justice and equality, while simultaneously encouraging quick and balanced economic growth in the country. In recent years, the government has been advocating for higher fund allocations towards schemes that empower women. As a woman in business, I expect Finance Minister Nirmala Sitharaman to accelerate inclusive development to a greater extent, says Vaishali Nigam Sinha.

  
  

• Budget 2024 Expectations Live: Nirmala Sitharaman second finance minister to present budget 6 times in a row.

  Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row -- 5 annual Budgets and one interim -- a feat achieved so far only by former Prime Minister Morarji Desai.

  With the presentation of the interim Budget on February 1, Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who had presented five budgets in a row. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959 -1964.

  
  

• Budget 2024 Expectations: Address energy security and material sustainability concerns.

  Nuvama Institutional Equities has estimated that the government may prioritize the development of indigenous energy storage technology and renewable power supply, which would help to address energy security and material sustainability concerns. The report suggests that there should be adequate allocation in decentralized renewable energy and energy access to make it a mainstream part of the country's green growth.

  
  

• Budget 2024 Expectations: Potential growth of renewable energy.

  Sagar Lele, who is a co-founder of Rupeeting, believes in the potential growth of renewable energy and is making a bet on it. He thinks that there should be more emphasis on providing incentives for module manufacturing and building an ecosystem specifically for renewable energy. The main objective is to ensure that there is enough capacity to meet the demand, whether it's for thermal or renewable energy. Regarding the 2030 targets, the goal is to introduce policy initiatives to create an ecosystem that can facilitate the achievement of our targets, be it solar, wind, or green hydrogen.

  
  

• Budget 2024 Expectations: FIIs turn net sellers.

  According to Sameet Chavan, the head of research for technical and derivatives at Angel One, foreign institutional investors (FIIs) have turned into net sellers in equities this month after continuous buying. They have sold shares worth Rs 26,700 crore in January, with a major portion of the selling seen in banking counters, particularly HDFC Bank. This has led to the worst monthly decline for HDFC Bank since March 2020. Furthermore, FIIs have reduced their long positions and increased their short positions in the index futures segment. As a result, their long-short ratio has fallen from 70 percent to 47 percent, indicating a complete shift from an overbought situation in the market.

  
  

• Budget 2024 Expectations: Pre-budget avoid aggressive directional strategies.

  Sameet Chavan, the head of research for technical and derivatives at Angel One, has analyzed the pre-budget positioning. According to him, derivative activity indicates that the ongoing correction can be primarily attributed to long unwinding. What's noteworthy is the significant increase in bearish bets in the banking index, with open interest surging by more than 40% over the same timeframe. There has been a substantial addition of short positions in the Bank Nifty for the upcoming series, which potentially reflects a strategic move ahead of the budget announcement.

  
  

• Budget 2024 Expectations: Investors are advised to remain cautious while investing in PSUs.

  Investors are advised to remain cautious while investing in these state-controlled entities, as valuations of some stocks appear to be overheated compared to their private counterparts. In the last year alone, one-third of the PSU stocks have doubled, resulting in a surge of over 65 percent in the BSE PSU Index.

  
  

• Budget 2024 Expectations: Will the PSU rally continue post-budget?

  Shares of Public Sector Undertakings (PSUs) have experienced an impressive growth during the five-year tenure of the Bharatiya Janata Party (BJP)-led National Democratic Alliance government. This growth has been fueled by persistent capex in growth verticals such as railways, infrastructure, power, and defense. The upcoming interim budget will play a crucial role in determining the future rally of these PSUs, depending on the government's allocation of capex for each sector, according to analysts. 

  
  

• Budget 2024 Expectations: Budget to include further details about Pradhanmantri Suryodaya Yojana?

  Axis Securities has recently released a pre-budget report that suggests that the power sector is expected to gain additional momentum in the interim budget. The report highlights that the government is prioritizing the expansion of renewable energy utilization. Specifically, the report mentions that the budget will include further details about the Pradhanmantri Suryodaya Yojana, which is a scheme aimed at making electricity affordable and achieving self-sufficiency in power for India.

• Budget 2024 Expectations: Power sector will continue to be a focus in the upcoming FY24 budget.

  The power sector received a significant financial boost in the FY24 budget, with a 58% increase in allocation to Rs 20,671 crore. Analysts predict that the power sector will continue to be a focus in the upcoming FY25 budget.

  Even though the next budget is an interim one, it is expected to establish the foundation for future policy decisions. Most brokerages predict a focus on fiscal consolidation and priorities regarding capital and non-capital expenditure.