Budget 2024 was announced today and there has been some critical announcements, more on positive & a few on negative sides:-
• Overall we believe budget was pro-growth & leaned towards fiscal prudence which on the longer run is good for India’s growth trajectory & global credit ranking.
• Focus continues as indicated previously on key segments – Infrastructure, manufacturing, employment, renewables & MSMEs.
• Tinkering with equity taxation made the market swing heavily. It does impact your returns marginally going forward but does not change anything on earnings outlook and long term wealth creation.
We believe this is an opportunity to build long term wealth and hence we should continue investing and adding funds at regular intervals.