Budget 2023 & the market | Value Research The budget for FY24 has been announced. Read on to find out how it may affect the markets.
Budget Special

Budget 2023 & the market

The budget for FY24 has been announced. Read on to find out how it may affect the markets.

Budget 2023 & the market

From the corner tea stalls to WhatsApp groups, you can hear the buzz everywhere. The budget for the financial year 2023-24 has been announced, and everyone has got their pen and paper out.

But what is in store for Dalal Street?

While some may rejoice that BSE Sensex has turned green post the budget announcement for the third consecutive year, the market's initial reaction has often been somewhat "reactionary."

Having said that, there's no denying that the budget indeed plays a significant role in deciding the market's long-term movements in a given year.

In that spirit, here are some key highlights from the Union Budget 2023.

A push towards better infrastructure
If you have bet high on the infra segment, you can be optimistic about 2023. The finance minister has announced that the newly established Infrastructure Finance Secretariat will try to attract more private investment in infrastructure, including railways, roads, urban infrastructure and power, which are predominantly dependent on public resources. Moreover, capex for the infra segment has been hiked by 33 per cent and will account for 3.3 per cent of the GDP.

Another good start for start-ups
Start-ups can rest easy now that the limit to carry forward their losses has increased from seven to 10 years.

A better environment for business
To improve the ease of doing business, the government has reduced more than 39,000 compliances and decriminalised more than 3,400 legal provisions.

Skilled finance professionals = better markets
The government wants more skilled professionals in the securities market. To do so, it will empower SEBI to develop, regulate, maintain and enforce norms and standards for education in the National Institute of Securities Markets.

Confused between the old and new tax regime? This tax calculator gives you the answer.

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Reclaiming shares and dividends to get easier
The finance minister announced that an integrated IT portal will be established for reclaiming unclaimed shares and dividends from the Investor Education and Protection Fund Authority.

Markets to get safer
The government wants to ensure better regulation in the financial sector. For this, financial sector regulators will be requested to carry out a comprehensive review of existing regulations and will consider suggestions from the public for the same.

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