The government’s market borrowing cost is likely to remain lower in the next financial year after the government in the Union Budget 2024 announced a lower-than-expected market borrowing and lower fiscal deficit numbers, experts said. This will be aided further by the strong demand from foreign investors after inclusion of Indian bonds in the JP Morgan bond index, they added.

Paytm is in discussion with some of its banking partners to transfer the business of Paytm Payments Bank, the company's founder and chief executive officer Vijay Shekhar Sharma said on February 1. “Many large banks have reached out to us offering support and we are overwhelmed. We will have to change our Virtual Payment Address (VPA) as we partner with other banks.

Maruti Suzuki India's total vehicle sales, including exports, increased 5 per cent at 1,99,364 units in January from 1,72,535 units in the same month last year, the company said in a statement on Thursday. This was the highest-ever monthly sales volume for the Gurugram-based car maker, as per the statement. The total domestic sales grew 13 per cent at 1,70,214 vehicles.

PM Narendra Modi will dedicate three power projects in Odisha, with an investment of Rs 28,978 crore. These projects include Darlipali STPP, NSPCL Rourkela PP Expansion Project, and NTPC Talcher Thermal Power Project. These projects will provide low-cost power to states like Odisha, Bihar, Jharkhand and others. They also have modern environmental features and will create job opportunities.

Union Finance Minister Nirmala Sitharaman invoked caste in her Interim Budget speech on February 1, saying the BJP-led Centre’s highest priority is welfare of four major castes – poor, women, youth and farmer. Her statement was in line with Prime Minister Narendra Modi, who for the first time on November 30 last year.

Finance Minister Nirmala Sitharaman where on the one hand left the direct and indirect tax rates unchanged, on the other, she withdrew the outstanding direct tax demands for select financial years in the past. The Interim Budget 2024 proposes to withdraw such tax demands up to Rs 25,000 till the financial year 2009-10, and up to Rs 10,000 for five financial years till March 2015.

Indian pharma, CDMO and niche chemical companies have of late been spending heavily on R&D to discover new molecules and processes. This has turning out to be a prudent move as Indian companies are moving up the value chain. They are not only looking at opportunities arriving from the shift in supply chain from China to India a.k.a. China plus one theme but eyeing collaboration.

Kotak Mahindra Bank had the highest “Available for Sale” and “held for trading” books among banks. Hence, the bond rally is a big positive for it. Other beneficiaries to watch are SBI and ICICI Bank. The key beneficiaries in India's electronics manufacturing push and higher budgetary outlay include Dixon Technologies, Kaynes Technology, Syrma SGS, and Optiemus Infracom.

The Indian government's 11% increase in infrastructure spending in the interim budget is expected to boost steel demand and stimulate private investments and job creation. The emphasis on building various forms of infrastructure and maintaining fiscal prudence has been praised by industry leaders. The increase in capital expenditure for infrastructure amounts to Rs 11.1 lakh crore.

Finance minister Nirmala Sitharaman’s interim budget speech on Thursday was welcomed by leaders of corporate India for setting the roadmap for inclusive and sustainable growth of the economy, focus on infrastructure capex and innovation, while also ensuring fiscal prudence. “In the Interim Union Budget 2024-25, Finance Minister Nirmala Sitharaman has provided a comprehensive roadmap.

With Finance Minister Nirmala Sithraman announcing plans to set up more medical colleges and improve healthcare, good days may be in the offing for Indian healthcare. Allocation for public healthcare has been increased to Rs 90,171 crore in FY24-25, up from Rs 79,221 crore in FY23-24. The Finance Minister said that the government will launch a programme to promote cervical cancer vaccination.

The Union government has asked the National Highways Authority of India (NHAI) to continue on the path of fiscal consolidation and keep borrowings to a minimum in 2024-25 in an attempt to stop its debt ballooning to unsustainable levels. According to the interim budget for 2024-25, no provision for borrowings by the highway developer has been made for the next financial year.

The Union Budget for 2024 has not brought much cheer for startups, particularly early stage, as government cuts budget for major flagship schemes under 'Startup India' initiative. In the Budget, there has been a reduction in the allocation for the Small Industries Development Bank of India (SIDBI)-operated Fund of Funds Scheme (FFS). The allocation for FFS was cut down to Rs 1,200 crore.

FM Nirmala Sitharaman has increased outlay on semiconductors & display manufacturing under 'Modified Programmed for Development of Semiconductors and Display Manufacturing Ecosystem in India' by 130% to Rs 6,903 crore in the Budget 2024. Under this scheme, capex on land, buildings, plants, equipment, cleanrooms, transfer of tech, and R&D are covered for support for a period of over six years.

Power and energy stocks gained on February 1 after finance minister Nirmala Sitharaman reiterated her focus on renewable energy in the Interim Budget. Sitharaman in her speech said that, to meet their commitment for ‘net-zero’ by 2070, various measures will be taken such as providing viability gap funding for offshore wind energy and installing solar panels to help one crore households.