Interim Budget 2024: How the markets are reacting to Sitharaman’s speech
As 2024 is an election year, Finance Minister Nirmala Sitharaman's budget on February 1 will be an interim one or a 'vote of account'. Historically, on Budget day, the markets are choppy. Here's how the markets are reacting to the Interim Budget.
FollowIndian benchmark indices BSE Sensex and Nifty50 traded with minor cuts after Nirmala Sithraman presented her government's final Budget before the 2024 polls. Currently, the Sensex is at 71,645.30 (−106.81 (0.15%)) at 3.30 pm, while Nifty 50 is at 21,697.45 (−28.25 (0.13%))
Among the Sensex firms, Mahindra & Mahindra, Maruti, Power Grid, NTPC, IndusInd Bank, and Sun Pharma were the biggest gainers, while Larsen & Toubro, Titan, Bajaj Finserv, and JSW Steel were the major laggards. In January, Goods and Services Tax (GST) collections jumped 10.4 per cent to over Rs 1.72 lakh crore, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms.
This is an interim budget as it comes just ahead of the Lok Sabha Elections. This is Nirmala Sitharaman's sixth Union Budget. The full-fledged budget will be presented by the new government that comes to power after the elections.
The interim budget - a short-term financial plan - seeks Parliament nod for a grant in advance to meet the government's essential expenditure for the first four months of the new financial year.
