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The interim budget has identified some clear winners and losers in the stock market, highlighting the impact of fiscal measures on the sectors. While several sectors stand to gain from the budget measures, some may feel the pinch due to the status quo on taxes
In this year's interim budget, the finance minister proposed a 71.4% increase in allocation for a major expansion in chip and electronics manufacturing to Rs 13,104.50 crore.
Budget Chip Manufacturing Outlay: There is "clarity in policy and increase of trust in India," union electronics and information technology minister Ashwini Vaishnaw said, responding to a question from ET. " Companies want to set up mega-manufacturing clusters in India. People have huge confidence in India, and we will see more announcements very soon," he said.
Shares of defence-related companies declined due to profit booking after the 2024 Interim Budget speech, which raised allocations for the defence sector. The total capital outlay for defence is now Rs 6.2 lakh crore, an increase of 4.4% from the FY24 budget. The government had previously increased the defence budget by 13.8% to Rs 5.94 lakh crore in FY24. Finance Minister Nirmala Sitharaman also announced a new scheme for strengthening deep-tech technologies for defence purposes.
Kaynes has also acquired 13.2% shares in California-based Mixx Technologies Inc to establish Kaynes as a “silicon to systems” manufacturer for artificial intelligence (AI) and high-performance computing infrastructure.