The government will provide data and maps from the PM Gati Shakti portal to the private sector, enabling better infrastructure planning and optimization of logistics. This initiative includes a GIS-enabled platform with over 1,300 data layers, aiming to enhance project planning efficiency through improved access to critical information.
The Indian government will introduce a policy for recovering critical minerals from mining by-products, aiming to boost domestic availability and processing. Import duties on key minerals will be removed to promote manufacturing jobs. Mining reforms will feature in transformative initiatives for various sectors over the next five years.
The Nifty closed 26 points lower on Budget day amid high volatility. Analysts see strong support at 23,300, with resistance at 23,50023,600. A decisive breakout could push Nifty toward 24,000, while a drop below 23,280 may trigger panic.
Moody's Ratings has stated that despite India's efforts to maintain fiscal discipline and reduce the fiscal deficit, these measures are not sufficient for an immediate sovereign rating upgrade. The debt burden and high interest payments remain substantial challenges.
Finance Minister Nirmala Sitharaman stated that the income tax rebate in the Budget would benefit the Indian economy. The rebate has increased, allowing individuals to save more money, which could enhance the economy. The Budget also emphasizes rural prosperity, urban workers, and key sector reforms.
The budget continues the trend of fiscal prudence with a focus on reducing fiscal deficits over the next six years. While there is a short-term boost to consumer relief, there is a slight reduction in capital expenditure, impacting market sentiment towards capex stocks.
