Tourism Finance Corporation is seen as a beneficiary of the governments decision to provide long-term interest-free loans to states for financing the development of iconic tourist centres, branding and marketing them at the global scale.
The Interim Budget announcement for 2024 presents opportunities in mid-income housing and tourism. Mahindra Holidays is a potential beneficiary of increased tourism activity, offering resorts and hotels. The budget mentions the success of organizing G20 meetings and highlights India s economic strength as an attractive destination for business and conference tourism. The tourism sector, including spiritual tourism, has opportunities for local entrepreneurship.
The budget day always holds its relevance in forecasting the economic outlook of the nation, which is simultaneously being reflected through the equity markets, says brokerage house Angel One. It has come out with 4 technical picks for tomorrow s budget. Let s take a look.
Finance Minister Nirmala Sitharaman will present the interim Budget, which will focus on government spending on infrastructure. The Narendra Modi government s spending on infrastructure has been growing at a 30% CAGR in the last 4 years. The government is expected to raise allocation towards rail, roads, and other infrastructure projects. Infrastructure-related companies in construction, cement, and steel could benefit from increased government spending. Railways capex is expected to further increase to 20% growth YoY while defense spending growth may be in single digits.