The allocation for the Mahatma Gandhi National Rural Employment Guarantee Act remains unchanged at Rs 86,000 crore for FY 25. Allocation for the rural job scheme under MGNREGA recorded a steep cut of 33 percent in the FY24 Budget compared to the revised estimate of Rs 89,400 crore in the financial year 2022-23. The outlay for the Swach Bharat Mission has been increased to Rs 12,192 crore.

Shares of state-run power companies SJVN, NHPC and Power Grid surged up to 14 percent to new highs on February 2, a day after Finance Minister Nirmala Sitharaman announced an increase in budgetary allocation to the sector in the interim budget. The allocation was 17 percent higher at Rs 93,200 crore from the revised estimates of Rs 79,616 crore last year. Investors reacted positively to NHPC.

The Interim Budget, according to veteran investor Shankar Sharma, was not expected to deliver big-bang reforms. On February 1, the Finance Minister Nirmala Sitharaman presented the vote-on-account or interim budget before the Lok Sabha Polls that are expected to be held in April or May. “It (interim budget) seems pretty much like a continuity of what the policies have been.

There is no greater joy for bankers than the government saying that it is going to borrow less, or it isn’t going to borrow more. And an icing on the cake are phrases like “sticking to the fiscal consolidation path”. Post pandemic, seldom have the bankers heard such phrases. Therefore, when Finance Minister Nirmala Sitharaman reiterated this in her budget speech it was nothing less than music.

Stock traders were ready with band, baaja on Budget Day but the baaraat (party) came a day late as market participants were able to grasp the full implications of Nirmala Sitharaman's no-compromise Budget only the next day. Sensex jumped over 1,400 points on Friday, while Nifty crossed its previous peak of 22,124, also referred to as the Ram Mandir peak in Street parlance.

Veteran investor Samir Arora of Helios Capital says Paytm may not have a corporate governance issue as opposed to an issue within the regulated bank and non-regulated fintech entities. Paytm became the focal point of analysts and investor alike since the Reserve Bank of India imposed restrictions on its lending business. This included restrictions against accepting new deposits.

Following Finance Minister Nirmala Sitharaman's interim Budget speech, railway-linked stocks like IRFC, RVNL, and Railtel saw a 3-5% drop in their stock prices. Despite expectations, the allocated capital expenditure for Indian Railways is marginally higher than last year's budget. Analysts were hopeful for an increase in Dedicated Freight Corridor, rolling stock, and High-Speed Rail Networks.

Indian equity indices, BSE Sensex and NSE Nifty 50 are expected to open positively on Friday according to GIFT Nifty. Key stocks to watch include Titan Company, Jindal Steel & Power, Lupin, Gokaldas Exports, Ultratech Cement, UFO Moviez India, and PB Fintech. In other news, Tata Group may form a joint venture with Taiwan firm Pegatron, while Zee Entertainment's largest shareholder has sold 42%

Asian shares were buoyed by a late bounce in U.S. tech on Friday as results from Meta and Amazon beat expectations, while investors are bracing for U.S. jobs figures, which could hasten bets for rate cuts if they come in below forecast. Both quarterly results from Meta Platforms and Amazon.com impressed investors, with their shares surging 15% and 7% in after-hour trading, respectively.

The 2024 interim budget was in sync with the government's commitment to sustainable development, inclusive growth and empowerment. It is multidimensional in its focus and resolute in its march towards the $5-trillion-economy mark. At its heart, the Budget is about building for the future with an emphasis on innovative, socially, and environmentally responsible growth taking all sections.

On Thursday, U.S. stocks rebounded after the Federal Reserve dismissed expectations of an interest rate cut in March. The tech-heavy Nasdaq led the gains, with companies like Meta Platforms and Amazon reporting positive earnings. However, Apple's China sales missed targets. Economic data showed rising productivity and moderated labor market conditions. The S&P 500 rose 1.25%.

Oil prices rose following OPEC+'s decision to maintain current oil output levels and reports of a potential ceasefire between Israel and Hamas. However, the ceasefire was unverified and tensions in the region continue due to attacks by Yemen's Houthi forces on ships in the Red Sea. OPEC+ will reevaluate production cuts in March.

India's renewable energy stocks have surged in the past two years due to government promises to boost clean energy production. However, these extended valuations are a cause for concern, with some stocks seeing as high as a 5,800 percent increase. Experts warn that investors should focus on fundamentals rather than hype and excessive valuations. With solar module prices falling.

On February 8th, the Reserve Bank of India will maintain its interest rate at 6.50%, according to economists polled by Reuters. The RBI has kept the rate steady since February 2023, despite being one of the slower central banks in raising rates. Though inflation is close to the upper limit of their target range, the economy is still growing steadily and a rate cut is not expected.

The Indian equity indices BSE Sensex and NSE Nifty 50 are expected to open positively on Friday, according to GIFT Nifty. On Thursday, the NSE Nifty 50 closed slightly lower while the BSE Sensex closed lower by 0.15%. In Wall Street, all three major indices closed in the green, with the Dow Industrial Average down by 0.97% and the S&P 500 up by 1.25%.