Housing finance company stocks rose as Finance Minister Nirmala Sitharaman announced a new housing scheme for the middle class and a plan to build 2 crore houses in the next five years. HUDCO, PNB Housing, LIC Housing, and AAVAS Financiers saw gains. The budget also aims to address social inequalities and promote affordable housing. Real estate industry had hoped for tax breaks.

The finance minister has announced that there will be no changes in income tax slabs for the financial year 2024-25, as per the interim budget. Individuals can choose between the old and new tax regimes each year, with the new regime offering increased exemption limits and lower taxes for those earning up to Rs 7 lakh. The old regime still allows for various exemptions and deductions.

The government plans to develop India by 2047, as stated by Finance Minister Nirmala Sitharaman. The interim Budget 2024-25 includes periodic and appropriate increases in minimum support prices for farmers. Social justice is a key priority and the government aims to achieve socio-economic transformation through outcome-based policies.

Finance Minister Nirmala Sitharaman on Thursday said that about 1 crore households will get 300 units of free electricity under the rooftop solar scheme. Following the announcement, shares of green energy and related stocks jumped up to 5% with IREDA and Websol Energy leading the rally.While IREDA and Websol were each up 5%, Suzlon Energy and Sterling and Wilson rose 4% and 2%, respectively.

The Union government has allocated Rs 86,000 crore for the MGNREGA scheme in FY25, the same as in the revised estimates for this year. The outlay for the scheme has been increased significantly due to high demand during the pandemic. It guarantees 100 days of wage employment to rural households and measures have been taken to prevent leakages in the system.

Budget speech announced expansion of Nano DAP application on various crops in all agro-climatic conditions, with fertilizer stocks expected to remain in focus. This interim budget of the Modi 2.0 government will be followed by a full budget after elections. Markets reacted mildly, with Nifty up by 0.03% and FM increasing capex allocation by 11.1%.

Industrial stocks saw a correction after Finance Minister Nirmala Sitharaman announced an 11.11 percent increase in capex allocation for FY20, lower than the expected 15-16 percent. L&T, KEI Industries and KEC International recorded a decline in share prices. The increase is lower than the previous year's 25 percent growth, but industrial stocks have rallied significantly in the past year.

The Ministry of Road Transport and Highways received a 2.8% increase in budget allocation to around Rs 2.78 lakh crore for 2024-25, which will help develop more highways and expressways in the country. However, the target for highway construction has been affected by bad weather and state elections. The ministry is expected to complete the construction of 11,000 km of national highways this year.

The Union government has assumed a nominal GDP growth of 10.5 percent for 2024-25, the interim Budget presented by FM Nirmala Sitharaman on February 1 showed. "Nominal GDP for BE 2024-25 has been projected at Rs 3,27,71,808 crore assuming 10.5 percent growth over the estimated Nominal GDP of Rs 2,96,57,745 crore as per the First Advance Estimates of FY 2023-24," the Budget documents said.

The recent Union Budget 2024 did not bring any major changes for India's banking sector, with no new capitalization plans for state-run banks or privatization announcements. However, schemes were outlined to provide funding for smaller companies and boost innovation. Additionally, long-term interest-free loans will be given to promote tourism and fiscal consolidation is a priority.

Finance Minister Nirmala Sitharaman downplayed the significance of the Interim Budget in December and maintained a similar tone in February. However, her interim budget for 2024-25 stood out for two notable reasons: its focus on capital expenditure and efforts towards decoupling policymaking from annual budget accounting. The budget aims to increase government capital expenditure.

India's Finance Minister did not mention any updates on crypto regulations and taxes in the Interim Budget speech. The government has been working with G20 nations for a common global framework, and has taken measures to address demands from the Indian crypto industry. This includes sending notices to offshore exchanges and delisting them from the App Store.

Finance Minister Nirmala Sitharaman revealed that the PM KISAN Yojana has benefited over 11.8 crore farmers with a financial assistance of Rs 34 lakh crore. This was made possible through direct benefit transfer via Jan Dhan accounts, resulting in savings of Rs 2.7 lakh crore. Under this initiative, farming families receive Rs 6,000 per year in three equal instalments through DBT.

The Interim Budget announced a new rooftop solar scheme for households, aiming to install rooftop solar systems in 1 crore homes and provide savings of up to Rs.18,000 annually. The implementing agency is REC Ltd and the scheme is expected to benefit households by providing free electricity and allowing them to sell surplus energy.

Finance Minister Nirmala Sitharaman announced that by 2030, 100 metric tonnes of coal gasification and liquefaction will be set up. The government has also approved the establishment of a coal-to-SNG project and a coal-to-ammonium nitrate project through joint ventures with Coal India and other companies. This will help reduce import of chemicals and promote aquaculture in the country.