Finance Minister Nirmala Sitharaman has fulfilled her promise regarding the unprecedented budget. At least from the market point of view, it seems so. The market touched a historic peak on budget day. It is clear from this budget that the government’s entire focus is on ECONOMIC REFORM and RECOVERY, for this, even if FISCAL DEFICIT increases, do not worry. Steps have been taken to move DISINVESTMENT to top gear. DISINVESTMET of 2 Government Banks and a General Insurance Company will be done in FY22. Infra, Health, Government Bank has been given a big booster in the budget. However, the middle and salaried class, feeling hopeful of income tax relief, felt a bit disappointed. FM said it was very difficult to make a budget in this difficult time of Corona.
Talking about the market here, the market has saluted today’s budget. In terms of numbers, the market has recorded the biggest rally till date. The Nifty climbed about 650 points and closed beyond 14 thousand 200. Sensex gained 5 per cent to reach 48,600. At the same time, Nifty Bank also managed to touch the 33,000 level. Apart from PSU bank index, realty, auto, metal index also gained momentum. And most importantly, the market cap of Nifty 50 increased by about Rs 5 lakh crore.
Important things about the budget
Big boost to health sector
-PM announces self-reliant health plan
64,180 crore spent in 6 years
– 17,000 rural, 11,000 urban centers supported
– Health emergency centers to be opened
– Mission Nutrition 2.0 Launch
– Urban Healthy India Mission 2.0 Launch
– `35,000 Cr for corona vaccine
– 4 new virology centers to be opened
– Vehicle Scrappage Policy
-Voluntary vehicle scrap policy launched
-20 years old in private vehicle policy
Header – help manufacturing
– PLI scheme soon for 13 sectors
– Large announcements for infra
– 7 Mega Textile Industrial Park
– National Infra Pipeline for 7400 project
Will open Development Financial Institute with -20,000 Cr
– Will hand over 7 big ports in private hands
– Dedicated Freight Corridor assets will be sold
– Allocation of 8,500 km road project by next year
– 1.1 lakh rupees spent on railway budget
– Expansion of Chennai, Bangalore, Nagpur, Nashik Metro
– New gas transport body to be built next year
– Banking, Insurance Improvement
– `20,000 Cr for PSBs in FY22
– Create AMC for NPAs
– FDI limit in insurance increased from 49% to 74%
– Large announcements for agriculture
-1.72 Lk Cr for agriculture in FY22
– Farm credit target for FY22 `16.5 Lk Cr
– `40,000 Cr for Rural Infra Fund
– `75,100 Cr given on MSP in FY21
– `1.7 Lk Cr given for paddy purchase in FY21
– E-NAM will add 1,000 new mandis
– 5 large fishing hubs to be built
– APMC will be brought under the Agri Infra Fund
– Gift to startup
– Margin money requirement reduced from 25% to 15%
– Reduced rates under Margin Money Loan Scheme
– Capital gains rebate on startup investment increased by 1 year
– Focus on education
– 100 new military schools to be built
– Commission will be made for higher education
– Leh-Ladakh to become Central University
– Push digital payment
– Rs 1500 crore incentive on digital payment
– The upcoming census will be digital
– `3,700 Cr for Digital Census
– Relief to taxpayers
– Exemption from filling returns to pensioners above 75 years
– Faceless Dispute Resolution Committee for Small Taxpayer
Tax cases older than 3 years will not be opened
– Boost Real Estate
– Tax exemption issued to builders of cheap houses
– Additional tax rebate on home loan interest released
– Up to 3.5 lakh tax rebate on home loan interest released
– REIT, INVIT’s dividend out of TDS
Prime Minister Narendra Modi has described the budget as the vision of a self-reliant India. He congratulated the Finance Minister and his entire team and said that the Budget is about to take the economy to a new peak. Bold and big reform decisions have been taken in this.
Let us know what the market experts have said on the big and bold budget of Finance Minister Nirmala Sitharaman-
Market heavyweights liked the budget of Finance Minister Nirmala Sitaraman. Vallabh Bhansali of Enam Holdings has described it as the boldest budget since 1991. He hoped that in the coming days, the FII rally will be more in India and the country will grow at a rate of 16%.
M&M MD Pawan Goenka has praised the announcement of scrap policy in the budget. He has said that this will increase demand and revenue from the policy. Also, the new policy is also beneficial for the environment. Here, Feedback Infra Chairman Vinayak Chatterjee said that Infra got a big boost in the budget. He described the roadmap for DFI and asset monetization as a big step. 5.5 lakh crore allocation for infra in the budget
Have done
Here, Uday Kotak, MD & CEO of Kotak Mahindra Bank, says that this budget will boost growth. The market’s decision to take loans is right. Capital expenditure will accelerate growth.
