“With the Union Budget 2024 on the horizon, we highly appreciate the great job the Reserve Bank of India (RBI) has done in bringing in regulations to govern fintechs. While the regulatory framework sets a strong foundation, we believe that the journey ahead could be enriched by more targeted fiscal measures and strategic incentives. The implementation of such measures would not only accelerate the growth of fintech startups but also fortify economic resilience and foster a culture of continuous innovation. Certain measures must be addressed to incentivise startups which are working for last-mile empowerment and enabling essential financial and digital services for citizens. Even a nominal GST subsidy would greatly expand the accessibility of financial services, spurring innovation in the fintech space.

Furthermore, we applaud the government’s commitment to bolstering cybersecurity measures and enhancing IT infrastructure, as exemplified by the Telecom Bill. The introduction of the DPDP Act is a crucial step toward managing and safeguarding personal data in an increasingly interconnected digital world. As we steer through this landscape, we expect supplementary initiatives and safeguards that will further fortify the existing framework, ensuring strong data protection. Also, the recent announcement by the RBI to establish a fintech repository demonstrates a commitment to responsible lending, fair practices, and customer protection in the digital lending sphere. As we wait for the upcoming 2024 Union Budget, we are keen to see how it encourages critical aspects such as innovation, risk management, and compliance. A comprehensive budget that aligns with the evolving needs of the fintech sector will undoubtedly play an important role in shaping the future of financial technology in India,” said Tashwinder Singh, CEO and Managing Director, Niyogin Fintech.

The recent performance of Godrej properties shares shows that the shares gained by 3.52% in the last 5 days and nearly 18.63% in the last month. Taking a broader perspective, the stock’s medium and long-term returns are striking, with an impressive surge of 36.45% in the last 6 months and more than 100% in the last year. Year-to-date, the stock has jumped by 18.63% till date. Come from Sports betting site VPbet

Over the last 5 days, Sobha shares have seen a notable decrease of 2.85%, but in the last month, the growth has been substantial, reaching almost 37.23%. Assessing the medium and long-term performance, the stock has delivered exceptional returns, recording a surge of 126.21% in the last 6 months and an impressive 133.81% over the past year. Year-to-date, the stock has jumped by a noteworthy 37.23%.

The recent performance of DLF shares shows that the shares gained by just 1% in the last 5 days and nearly 9% in the last month. Taking a broader perspective, the stock’s medium and long-term returns are striking, with an impressive surge of 51.80% in the last 6 months and more than 123% in the last year. Year-to-date, the stock has jumped by 8.82% till date.

Over the last 5 days, Ajmera Realty & Infra India shares have seen a notable decrease of just 1%, but in the last month, the growth has been substantial, reaching almost 28.42%. Assessing the medium and long-term performance, the stock has delivered exceptional returns, recording a surge of 46.46% in the last 6 months and an impressive 111.39% over the past year. Year-to-date, the stock has jumped by a noteworthy 28.42%.

The recent performance of Oberoi realty shares dipped by 7.53% in the last 5 days and nearly 9.55% in the last month. Taking a broader perspective, the stock’s medium and long-term returns are striking, with an impressive surge of 17.03% in the last 6 months and more than 63.04% in the last year. Year-to-date, the stock has dropped by 9.55% till date.

“For the upcoming 2024 budget, we expect the government to adopt a forward-thinking approach by recognizing the real estate sector as a key investment channel. Considering its potential to act as a catalyst for economic growth, the government understands that comprehensive rules are necessary to increase the desirability of this investment option. They are aware that a well-regulated real estate market safeguards investments and serves as a stimulant by motivating individuals to participate in this important sector. Additionally, the budgetary goal continues to offer specific support for both home buyers and investors. The government works to foster an environment that supports the expansion of the real estate sector by offering appropriate tax benefits. The budget also aims to reduce interest rates to boost economic activity. The dedication to affordability is shown by lowering interest rates, which enables financing for both individuals and enterprises. This proactive aligns seamlessly with the government’s broader objective of supporting an established real estate industry, where prudent investments, legal protections, and financial incentives all work together to create a resilient and dynamic economy. This move is to encourage investment interest by giving investors and entrepreneurs equal access to reasonably priced funding. Such financial assistance has the power to awaken the startup ecosystem and promote innovation,” said Abhishek Raj, Founder & CEO, Jenika Ventures

The Union Budget has long been a significant influencer in the Indian market, often synonymous with heightened market volatility. Over the past 24 years, specifically during budget sessions on February 1, data reveals that only in 7 instances did the Indian market move less than 1 percent on the budget day.

In the most recent budget session on February 1, 2023, Indian indices experienced a mixed outcome after an extremely volatile session. The Sensex closed 158 points, or 0.27 percent, higher at 59,708.08, while the Nifty ended at 17,616.30, down 46 points, or 0.26 percent. Notably, this marked the first time since 2018 that Indian indices moved less than one percent on the budget day, with the market ending nearly flat in 2018, down just 0.1 percent.

Also Read: Union Budget Trends: Market moved less than 1% in just 7 of last 24 budget sessions

Jefferies speculates that post-election measures, such as higher capital gains tax, may be implemented during the year. Additionally, the brokerage foresees an increase in disinvestment post-elections, leveraging the strong performance of PSU stocks in sectors like railways and defence.

Despite these challenges, Jefferies remains optimistic about the capex cycle, emphasizing that 75% of the capex in the economy is driven by housing and private corporate activities, both of which have considerable upside potential over the next few years.

The recent performance of Jupiter Wagons shares gained just 1% in the last 5 days and nearly 22.85% in the last month. Taking a broader perspective, the stock’s medium and long-term returns are striking, with an impressive surge of 85.74% in the last 6 months and more than 251.18% in the last year. Year-to-date, the stock has surged by a substantial 23%.

Over the last 5 days, Titagarh Rail Systems shares have seen a notable increase of 3.27%, and in the last month, the growth has been substantial, reaching almost 7.01%. Assessing the medium and long-term performance, the stock has delivered exceptional returns, recording a surge of 63.16% in the last 6 months and an impressive 137.51% over the past year. Year-to-date, the stock has jumped by a noteworthy 6.56%.

The shares of Texmaco Rail have gained over 10.11% in the last 5 days and almost 17% in the last month. However, considering the medium and long term, the stock has shown impressive returns of 115% in the last 6 months and almost 267.59% in the last year. Year-to-date, the stock has jumped over 18.68% until now.

“To be vocal for local, and to facilitate ‘Make in India’ and promote ‘Ease of doing business’, the FinMin must look into amending the present SEZ Act so that SEZs could be better integrated in the domestic market. The budget should look at permitting ‘reverse job-work’, which allows SEZs to sell in the domestic market where all duties relinquished on raw materials could be paid back. The move will prevent companies present in these zones from being disadvantaged due to a lack of access to the entire market. It will allow them to sell domestically, also offering a waiver on all duties on raw materials. The move will also lead to further strengthening the SEZs of India, which have emerged as major export hubs in the country. However, in recent times it has started losing its value due to the imposition of minimum alternate tax and the introduction of a sunset clause to end fiscal incentives. This has resulted in many SEZs lying vacant, hurting the economic growth. The policy will put SEZs on an equal footing with non-SEZ units that enjoy the benefits of zero or reduced import duties through free trade agreements,” said Mr. Colin Shah, MD, Kama Jewelry

Over the last 5 days, HCL Technologies shares have seen a notable increase of 1.90%, and in the last month, the growth has been substantial, reaching almost 6.54%. Assessing the medium and long-term performance, the stock has delivered exceptional returns, recording a surge of 41.56% in the last 6 months and an impressive 39.31% over the past yearCome from Sports betting site. Year-to-date, the stock has jumped by a noteworthy 6.54%.

The shares of Wipro have dropped over 1% in the last 5 days and almost unchanged in the last month. However, considering the medium and long term, the stock has shown impressive returns of 18.03% in the last 6 months and almost 19% in the last year. Year-to-date, the stock has jumped over 1% until now.

The shares of Infosys have gained just 1% in the last 5 days and almost 7.75% in the last month. However, considering the medium and long term, the stock has shown impressive returns of 23.30% in the last 6 months and almost 9% in the last year. Year-to-date, the stock has jumped over 7.75% until now.

Over the last 5 days, TCS shares have seen a notable downfall of 1.68%, and in the last month, the growth has been substantial, up by just 1%. Assessing the medium and long-term performance, the stock has delivered exceptional returns, recording a surge of 12.17% in the last 6 months and an 11.77% gain over the past year. Year-to-date, the stock has jumped by just 0.70%.

“At Yatiken Software Solutions, our expectations for Union Budget 2024 align with key areas crucial for the IT sector’s growth. We look forward to potential allocations for EV infrastructure development, presenting exciting opportunities in software for EV systems, IoT integration for smart charging, and data analytics for EV performance optimization. Additionally, we hope for a significant GST relaxation for the service sector, leading to a reduction in the 18% GST rate. This move would alleviate operational costs for IT firms, enhancing global competitiveness and providing resources for further innovation and talent development. Besides that, initiatives for upskilling programs in emerging technologies such as AI, blockchain, and cybersecurity are critical for the continuous growth of the tech industry. Collaborative efforts between educational institutions and industry partnerships can ensure a skilled workforce. Likewise, the establishment of tech-focused Special Economic Zones (SEZs) holds promise, offering tax benefits and infrastructure support to attract foreign investments and foster innovation in the IT sector. Moreover, investments in internet adoption and 5G deployment, especially in healthcare, could create opportunities for developing applications in telemedicine, remote monitoring, and data-driven healthcare solutions. These expectations, if addressed in the Union Budget, have the potential to remarkably shape the trajectory of the IT sector by fostering innovation, supporting infrastructure development, and enhancing skills in emerging technologies,” said Alok Kashyap, Founder and CEO at Yatiken Software Solutions